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Voting mechanisms are widely accepted and used methods for decentralized decision-making. Ensuring the acceptance of the voting mechanism's outcome is a crucial characteristic of robust voting systems. Consider this scenario: A group of…
We examine an economy in which interactions are more productive if agents can trust others to refrain from cheating. Some agents are scoundrels, who cheat at every opportunity, while others cheat only if the cost of cheating, a decreasing…
We study stable matching problems in networks where players are embedded in a social context, and may incorporate friendship relations or altruism into their decisions. Each player is a node in a social network and strives to form a good…
Algorithmic agents are used in a variety of competitive decision-making settings, including pricing contexts that range from online retail to residential home rental. We study the emergence of algorithmic collusion when competing agents…
The Artificial Intelligence paradigm (hereinafter referred to as "AI") builds on the analysis of data able, among other things, to snap pictures of the individuals' behaviors and preferences. Such data represent the most valuable currency…
The modernization of the power system introduces technologies that may improve the system's efficiency by enhancing the capabilities of users. Despite their potential benefits, such technologies can have a negative impact. This subject has…
This paper presents an agent-based artificial cryptocurrency market in which heterogeneous agents buy or sell cryptocurrencies, in particular Bitcoins. In this market, there are two typologies of agents, Random Traders and Chartists, which…
The emergence of new communication technologies allows us to expand our understanding of distributed control and consider collaborative decision-making paradigms. With collaborative algorithms, certain local decision-making entities (or…
Hedge has been proposed as an adaptive scheme, which guides an agent's decision in resource selection and distribution problems that can be modeled as a multi-armed bandit full information game. Such problems are encountered in the areas of…
Institutions and investors are constantly faced with the challenge of appropriately distributing endowments. No budget is limitless and optimising overall spending without sacrificing positive outcomes has been approached and resolved using…
We study an economic model where agents trade a variety of products by using one of three competing rules: "need", "greed" and "noise". We find that the optimal strategy for any agent depends on both product composition in the overall…
In general-sum games, the interaction of self-interested learning agents commonly leads to socially worse outcomes, such as defect-defect in the iterated stag hunt (ISH). Previous works address this challenge by sharing rewards or shaping…
When selfish users share a road network and minimize their individual travel costs, the equilibrium they reach can be worse than the socially optimal routing. Tolls are often used to mitigate this effect in traditional congestion games,…
Are rewards or penalties more effective in influencing user behavior? This work compares the effectiveness of subsidies and tolls in incentivizing user behavior in congestion games. The predominantly studied method of influencing user…
We explore the competitive effects of reaction time of automated trading strategies in simulated financial markets containing a single exchange with public limit order book and continuous double auction matching. A large body of research…
A model is developed to study the effectiveness of innovation and its impact on structure creation and structure change on agent-based societies. The abstract model that is developed is easily adapted to any particular field. In any…
We consider the problem of designing the the utility functions of the utility-maximizing agents in a multi-agent system so that they work synergistically to maximize a global utility. The particular problem domain we explore is the control…
The large-scale allocation of public resources (e.g., transportation, energy) is among the core challenges of future Cyber-Physical-Human Systems (CPHS). In order to guarantee that these systems are efficient and fair, recent works have…
The classical theory of efficient allocations of an aggregate endowment in a pure-exchange economy has hitherto primarily focused on the Pareto-efficiency of allocations, under the implicit assumption that transfers between agents are…
We study the production, entry, and technological decisions of firms in the presence of bribery. We find that bribery can be justified even in the absence of bureaucratic inefficiencies. We document substantial technology-specific…