Related papers: Optimal Common Contract with Heterogeneous Agents
In this paper, we investigate a moral hazard problem in finite time with lump$-$sum and continuous payments, involving infinitely many Agents with mean field type interactions, hired by one Principal. By reinterpreting the mean$-$field game…
We study a simple problem of allocating common-value goods. The designer seeks to allocate the goods to as many unit-demand agents as possible without monetary transfers, while agents, who possess partial private information about the…
A new class of multi agent single machine scheduling problems is introduced, where each job is associated with a self interested agent with a utility function decreasing in completion time. We aim to achieve a fair solution by maximizing…
We present distributed algorithms that can be used by multiple agents to align their estimates with a particular value over a network with time-varying connectivity. Our framework is general in that this value can represent a consensus…
Principal-agent problems arise when one party acts on behalf of another, leading to conflicts of interest. The economic literature has extensively studied principal-agent problems, and recent work has extended this to more complex scenarios…
We consider the problem of determining the optimal composition of a heterogeneous multi-agent team for coverage problems by including costs associated with different agents and subject to an upper bound on the maximal allowable number of…
Constrained maximization of submodular functions poses a central problem in combinatorial optimization. In many realistic scenarios, a number of agents need to maximize multiple submodular objectives over the same ground set. We study such…
Can a principal still offer optimal dynamic contracts that are linear in end-of-period outcomes when the agent controls a process that exhibits memory? We provide a positive answer by considering a general Gaussian setting where the output…
We initiate the study of a repeated principal-agent problem over a finite horizon $T$, where a principal sequentially interacts with $K\geq 2$ types of agents arriving in an adversarial order. At each round, the principal strategically…
We study the problem of allocating homogeneous and indivisible objects among agents with money. In particular, we investigate the relationship between egalitarian-equivalence (Pazner and Schmeidler, 1978), as a fairness concept, and…
We study a multi-agent contract design problem with moral hazard. In our model, each agent exerts costly effort towards an individual task at which it may either succeed or fail, and the principal, who wishes to encourage effort, has an…
We study contract design for welfare maximization in the well known "common agency" model of [Bernheim and Whinston, 1986]. This model combines the challenges of coordinating multiple principals with the fundamental challenge of contract…
In this paper, we consider a network of agents that has to self-assign a set of tasks while respecting resource constraints. One possible formulation is the Generalized Assignment Problem, where the goal is to find a maximum payoff while…
Adding a capacity constraint to a hidden-action principal-agent problem results in the same set of Pareto optimal contracts as the unconstrained problem where output is scaled down by a constant factor. This scaling factor is increasing in…
We study a model of moral hazard with heterogeneous beliefs where each of agent's actions gives rise to a pair of probability distributions over output levels, one representing the beliefs of the agent and the other those of the principal.…
In this paper, we study an optimal output consensus problem for a multi-agent network with agents in the form of multi-input multi-output minimum-phase dynamics. Optimal output consensus can be taken as an extended version of the existing…
This paper deals with solving distributed optimization problems with equality constraints by a class of uncertain nonlinear heterogeneous dynamic multi-agent systems. It is assumed that each agent with an uncertain dynamic model has limited…
In this paper, we formulate and solve a randomized optimal consensus problem for multi-agent systems with stochastically time-varying interconnection topology. The considered multi-agent system with a simple randomized iterating rule…
Federated learning promises significant sample-efficiency gains by pooling data across multiple agents, yet incentive misalignment is an obstacle: each update is costly to the contributor but boosts every participant. We introduce a…
This paper is concerned with evaluating different multiagent learning (MAL) algorithms in problems where individual agents may be heterogenous, in the sense of utilizing different learning strategies, without the opportunity for prior…