Related papers: A Belief-Based Characterization of Reduced-Form Au…
Leading agent-based trust models address two important needs. First, they show how an agent may estimate the trustworthiness of another agent based on prior interactions. Second, they show how agents may share their knowledge in order to…
We study how AI agents form expectations and trade in experimental asset markets. Using a simulated open-call auction populated by autonomous Large Language Model (LLM) agents, we document three main findings. First, AI agents exhibit…
Concurrent multi-player mean-payoff games are important models for systems of agents with individual, non-dichotomous preferences. Whilst these games have been extensively studied in terms of their equilibria in non-cooperative settings,…
We propose a belief-formation model where agents attempt to discriminate between two theories, and where the asymmetry in strength between confirming and disconfirming evidence tilts beliefs in favor of theories that generate strong (and…
We consider the Independent Chip Model (ICM) for expected value in poker tournaments. Our first result is that participating in a fair bet with one other player will always lower one's expected value under this model. Our second result is…
In this paper we focus on noncooperative games with uncertain constraints coupling the agents' decisions. We consider a setting where bounded deviations of agents' decisions from the equilibrium are possible, and uncertain constraints are…
A model for the joint evolution of opinions and how much the agents trust each other is presented. The model is built using the framework of the Continuous Opinions and Discrete Actions (CODA) model. Instead of a fixed probability that the…
As the complexity of AI systems and their interactions with the world increases, generating explanations for their behaviour is important for safely deploying AI. For agents, the most natural abstractions for predicting behaviour attribute…
Auction theories are believed to provide a better selling opportunity for the resources to be allocated. Various organizations have taken measures to increase trust among participants towards their auction system, but trust alone cannot…
We study the effects of individual perceptions of payoffs in two-player games. In particular we consider the setting in which individuals' perceptions of the game are influenced by their previous experiences and outcomes. Accordingly, we…
Originating in evolutionary game theory, the class of "zero-determinant" strategies enables a player to unilaterally enforce linear payoff relationships in simple repeated games. An upshot of this kind of payoff constraint is that it can…
We suggest that one individual holds multiple degrees of belief about an outcome, given the evidence. We then investigate the implications of such noisy probabilities for a buyer and a seller of binary options and find the odds agreed upon…
We study independent private values auction environments in which the auctioneer's revenue depends nonlinearly on bidders' interim winning probabilities. Our framework accommodates heterogeneity among bidders and places no ad hoc…
In many cases the Nash equilibria are not predictive of the experimental players' behaviour. For some games of Game Theory it is proposed here a method to estimate the probabilities with which the different options will be actually chosen…
A brief review is given of the minority game, an idealized model of a market of speculative agents, and its complex many-body behaviour. Particular consideration is given to the consequences and implications of correlations between…
Interactions between people are the basis on which the structure of our society arises as a complex system and, at the same time, are the starting point of any physical description of it. In the last few years, much theoretical research has…
We study the interpersonal trust of a population of agents, asking whether chance may decide if a population ends up in a high trust or low trust state. We model this by a discrete time, random matching stochastic coordination game. Agents…
In addressing the challenge of exponential scaling with the number of agents we adopt a cluster-based representation to approximately solve asymmetric games of very many players. A cluster groups together agents with a similar "strategic…
We introduce and study the problem of detecting whether an agent is updating their prior beliefs given new evidence in an optimal way that is Bayesian, or whether they are biased towards their own prior. In our model, biased agents form…
The minority model was introduced to study the competition between agents with limited information. It has the remarkable feature that, as the amount of information available increases, the collective gain made by the agents is reduced.…