Related papers: Artificial Intelligence and Asymmetric Information…
Large Language Models (LLMs) have transformed the field of artificial intelligence by unlocking the era of generative applications. Built on top of generative AI capabilities, Agentic AI represents a major shift toward autonomous,…
Artificial Intelligence (AI) can transform the knowledge economy by automating non-codifiable work. To analyze this transformation, we incorporate AI into an economy where humans form hierarchical organizations: Less knowledgeable…
Motivated by online platforms such as job markets, we study an agent choosing from a list of candidates, each with a hidden quality that determines match value. The agent observes only a noisy ranking of the candidates plus a binary signal…
When robots share the same workspace with other intelligent agents (e.g., other robots or humans), they must be able to reason about the behaviors of their neighboring agents while accomplishing the designated tasks. In practice,…
We study the informational efficiency of a market with a single traded asset. The price initially differs from the fundamental value, about which the agents have noisy private information (which is, on average, correct). A fraction of…
Bias is known to be an impediment to fair decisions in many domains such as human resources, the public sector, health care etc. Recently, hope has been expressed that the use of machine learning methods for taking such decisions would…
Until now, distributed algorithms for rational agents have assumed a-priori knowledge of $n$, the size of the network. This assumption is challenged here by proving how much a-priori knowledge is necessary for equilibrium in different…
The integration of AI agents into economic markets fundamentally alters the landscape of strategic interaction. We investigate the economic implications of expanding the set of available technologies in three canonical game-theoretic…
People increasingly use large language models (LLMs) to explore ideas, gather information, and make sense of the world. In these interactions, they encounter agents that are overly agreeable. We argue that this sycophancy poses a unique…
Artificial intelligence (AI) is an emerging technology that has the potential to transform many aspects of society, including the economy, healthcare, and transportation. This article synthesizes recent research literature on the global…
Information exchange is a crucial component of many real-world multi-agent systems. However, the communication between the agents involves two major challenges: the limited bandwidth, and the shared communication medium between the agents,…
The theory of algorithmic fair allocation is within the center of multi-agent systems and economics in the last decade due to its industrial and social importance. At a high level, the problem is to assign a set of items that are either…
Artificial Intelligence has the potential to exacerbate societal bias and set back decades of advances in equal rights and civil liberty. Data used to train machine learning algorithms may capture social injustices, inequality or…
We study a setting where Bayesian agents with a common prior have private information related to an event's outcome and sequentially make public announcements relating to their information. Our main result shows that when agents' private…
AI systems increasingly support human decision-making. In many cases, despite the algorithm's superior performance, the final decision remains in human hands. For example, an AI may assist doctors in determining which diagnostic tests to…
This paper investigates the interplay between information diffusion in social networks and its impact on financial markets with an Agent-Based Model (ABM). Agents receive and exchange information about an observable stochastic component of…
This paper studies the switching of trading strategies and its effect on the market volatility in a continuous double auction market. We describe the behavior when some uninformed agents, who we call switchers, decide whether or not to pay…
In the midst of the growing integration of Artificial Intelligence (AI) into various aspects of our lives, agents are experiencing a resurgence. These autonomous programs that act on behalf of humans are neither new nor exclusive to the…
The recent trend for acquiring big data assumes that possessing quantitatively more and qualitatively finer data necessarily provides an advantage that may be critical in competitive situations. Using a model complex adaptive system where…
Autonomous and learning agents increasingly participate in markets - setting prices, placing bids, ordering inventory. Such agents are not just aiming to optimize in an uncertain environment; they are making decisions in a game-theoretical…