Related papers: Economic Efficiency Requires Interaction
Efficient allocation and use of limited resources are fundamental to advancing collective welfare and achieving long-term societal sustainability. This challenge involves not only how policymakers distribute scarce resources among…
Motivated by recent progress on pricing in the AI literature, we study marketplaces that contain multiple vendors offering identical or similar products and unit-demand buyers with different valuations on these vendors. The objective of…
We introduce a new class of combinatorial markets in which agents have covering constraints over resources required and are interested in delay minimization. Our market model is applicable to several settings including scheduling, cloud…
Decentralized resource allocation is a key problem for large-scale autonomic (or self-managing) computing systems. Motivated by a data center scenario, we explore efficient techniques for resolving resource conflicts via cooperative…
The efficient market hypothesis (EMH) famously stated that prices fully reflect the information available to traders. This critically depends on the transfer of information into prices through trading strategies. Traders optimise their…
While it is known that communication facilitates cooperation in multi-agent settings, it is unclear how to design artificial agents that can learn to effectively and efficiently communicate with each other. Much research on communication…
The biased interaction game described the operation of systems rooted in boundedly rational interactions under conditions of scarcity. The game explored the influence of bias and demonstrated how hierarchy and inequality are emergent system…
We examine the dynamics of informational efficiency in a market with asymmetrically informed, boundedly rational traders who adaptively learn optimal strategies using simple multiarmed bandit (MAB) algorithms. The strategies available to…
Crowdsourcing has been successfully employed in the past as an effective and cheap way to execute classification tasks and has therefore attracted the attention of the research community. However, we still lack a theoretical understanding…
We study a market mechanism that sets edge prices to incentivize strategic agents to efficiently share limited network capacity. In this market, agents form coalitions, with each coalition sharing a unit capacity of a selected route and…
Strategies for orchestrating the interactions between multiple agents, both human and artificial, can wildly overestimate performance and underestimate the cost of orchestration. We design a framework to orchestrate agents under realistic…
Allocating conflicting jobs among individuals while respecting a budget constraint for each individual is an optimization problem that arises in various real-world scenarios. In this paper, we consider the situation where each individual…
We propose a simple model that describes the dynamics of efficiencies of competing agents. Agents communicate leading to increase of efficiencies of underachievers, and an efficiency of each agent can increase or decrease irrespectively of…
In most multiagent applications, communication is essential among agents to coordinate their actions, and thus achieve their goal. However, communication often has a related cost that affects overall system performance. In this paper, we…
In many situations, communication between agents is a critical component of cooperative multi-agent systems, however, it can be difficult to learn or evolve. In this paper, we investigate a simple way in which the emergence of communication…
Pervasive personal communication technologies offer the potential for important social benefits for individual users, but also the potential for significant social difficulties and costs. In research on face-to-face social interaction,…
Two general algorithms based on opportunity costs are given for approximating a revenue-maximizing set of bids an auctioneer should accept, in a combinatorial auction in which each bidder offers a price for some subset of the available…
We study fair resource allocation under a connectedness constraint wherein a set of indivisible items are arranged on a path and only connected subsets of items may be allocated to the agents. An allocation is deemed fair if it satisfies…
Economies and societal structures in general are complex stochastic systems which may not lend themselves well to algebraic analysis. An addition of subjective value criteria to the mechanics of interacting agents will further complicate…
To successfully navigate its environment, an agent must construct and maintain representations of the other agents that it encounters. Such representations are useful for many tasks, but they are not without cost. As a result, agents must…