Related papers: Complexity-Approximation Trade-offs in Exchange Me…
Optimal mechanism design enjoys a beautiful and well-developed theory, and also a number of killer applications. Rules of thumb produced by the field influence everything from how governments sell wireless spectrum licenses to how the major…
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…
The Fisher market is one of the most fundamental models for resource allocation problems in economic theory, wherein agents spend a budget of currency to buy goods that maximize their utilities, while producers sell capacity constrained…
Given the increased use of LLMs in financial systems today, it becomes important to evaluate the safety and robustness of such systems. One failure mode that LLMs frequently display in general domain settings is that of sycophancy. That is,…
The rise of Ethereum and other blockchains that support smart contracts has led to the creation of decentralized exchanges (DEXs), such as Uniswap, Balancer, Curve, mStable, and SushiSwap, which enable agents to trade cryptocurrencies…
Since economic mechanisms are often applied to very different instances of the same problem, it is desirable to identify mechanisms that work well in a wide range of circumstances. We pursue this goal for a position auction setting and…
This paper proposes a novel multi-layer blockchain architecture for the cross-border trading of CBDCs. The permissioned layer-2, by relying on the public consensus of the underlying network, assures the security and integrity of the…
The goal of this paper is to propose a framework for representing and reasoning about the rules governing a combinatorial exchange. Such a framework is at first interest as long as we want to build up digital marketplaces based on auction,…
We introduce a new framework for optimal routing and arbitrage in AMM driven markets. This framework improves on the original best-practice convex optimization by restricting the search to the boundary of the optimal space. We can…
Existing multi-objective preference alignment methods for large language models (LLMs) face limitations: (1) the inability to effectively balance various preference dimensions, and (2) reliance on auxiliary reward/reference models…
Fine-tuning Large Language Models (LLMs) on some task-specific datasets has been a primary use of LLMs. However, it has been empirically observed that this approach to enhancing capability inevitably compromises safety, a phenomenon also…
Ensuring sufficient liquidity is one of the key challenges for designers of prediction markets. Various market making algorithms have been proposed in the literature and deployed in practice, but there has been little effort to evaluate…
Performance of reliable communication over a coherent slow fading channel at high SNR is succinctly captured as a fundamental tradeoff between diversity and multiplexing gains. We study the problem of designing codes that optimally tradeoff…
The widespread adoption of deep learning models in computer vision has intensified concerns about interpretability. Despite strong performance, these models are often treated as black boxes, with limited systematic investigation of their…
Many-to-many matching with contracts is studied in the framework of revealed preferences. All preferences are described by choice functions that satisfy natural conditions. Under a no-externality assumption individual preferences can be…
This paper presents a comprehensive study on the use of ensemble Reinforcement Learning (RL) models in financial trading strategies, leveraging classifier models to enhance performance. By combining RL algorithms such as A2C, PPO, and SAC…
This paper presents a limit order book (LOB) market mechanism design for transactive energy systems. The proposed design is planned for deployment in New Hampshire and Maine under a US Department of Energy Connected Communities project. The…
The design of revenue-maximizing combinatorial auctions, i.e. multi-item auctions over bundles of goods, is one of the most fundamental problems in computational economics, unsolved even for two bidders and two items for sale. In the…
This paper introduces Large Execution Models (LEMs), a novel deep learning framework that extends transformer-based architectures to address complex execution problems with flexible time boundaries and multiple execution constraints.…
Machine-learned interatomic potentials (MLIPs) are revolutionizing computational materials science and chemistry by offering an efficient alternative to {\em ab initio} molecular dynamics (MD) simulations. However, fitting high-quality…