Related papers: Intelligent Machines and Incomplete Information

As electrical generation becomes more distributed and volatile, and loads become more uncertain, controllability of distributed energy resources (DERs), regardless of their ownership status, will be necessary for grid reliability. Grid…

Originally developed as a theory of consciousness, integrated information theory provides a mathematical framework to quantify the causal irreducibility of systems and subsets of units in the system. Specifically, mechanism integrated…

In classical job-scheduling games, each job behaves as a selfish player, choosing a machine to minimize its own completion time. To reduce the equilibria inefficiency, coordination mechanisms are employed, allowing each machine to follow…

We consider the design of experiments to evaluate treatments that are administered by self-interested agents, each seeking to achieve the highest evaluation and win the experiment. For example, in an advertising experiment, a company wishes…

In the repeated Prisoner's Dilemma, when every player has a different discount factor, the grim-trigger strategy is an equilibrium if and only if the discount factor of each player is higher than some threshold. What happens if the players…

Examining the behavior of multi-agent systems is vitally important to many emerging distributed applications - game theory has emerged as a powerful tool set in which to do so. The main approach of game-theoretic techniques is to model…

This paper focuses on the coordination of a large population of dynamic agents with private information over multiple periods. Each agent maximizes the individual utility, while the coordinator determines the market rule to achieve group…

AI systems often rely on two key components: a specified goal or reward function and an optimization algorithm to compute the optimal behavior for that goal. This approach is intended to provide value for a principal: the user on whose…

A principal who values an object allocates it to one or more agents. Agents learn private information (signals) from an information designer about the allocation payoff to the principal. Monetary transfer is not available but the principal…

Market efficiency at least requires the absence of weak arbitrage opportunities, but this is not sufficient to establish a situation where the market is sensitive, i.e., where it "fully reflects" or "rapidly adjusts to" some information…

Trade-offs between accuracy and efficiency pervade law, public health, and other non-computing domains, which have developed policies to guide how to balance the two in conditions of uncertainty. While computer science also commonly studies…

Information diffusion and influence maximization are important and extensively studied problems in social networks. Various models and algorithms have been proposed in the literature in the context of the influence maximization problem. A…

This paper introduces the first theoretical framework for quantifying the efficiency and performance gain opportunity size of adaptive inference algorithms. We provide new approximate and exact bounds for the achievable efficiency and…

We study the consequences of information asymmetries and misaligned incentives in settings with multiple independent agents. We model an interaction between a Sender, who holds vital private information but cannot act, and a Receiver, who…

This paper considers finitely many investors who perform mean-variance portfolio selection under relative performance criteria. That is, each investor is concerned about not only her terminal wealth, but how it compares to the average…

This article develops the concept of the agentic economy and diagnoses its measurable preconditions: a transition in which economic action is increasingly distributed among humans, AI agents, industrial robots, executable protocols, compute…

This paper reports experimental data describing the dynamics of three key information-sharing outcomes: quantity of information shared, falsification and accuracy. The experimental design follows a formal model predicting that cooperative…

Modern recommendation systems rely on the wisdom of the crowd to learn the optimal course of action. This induces an inherent mis-alignment of incentives between the system's objective to learn (explore) and the individual users' objective…

It is widely assumed that increases in economic productivity necessarily lead to economic growth. In this paper, it is shown that this is not always the case. An idealized model of an economy is presented in which a new technology allows…

Collaboration is crucial for reaching collective goals. However, its effectiveness is often undermined by the strategic behavior of individual agents -- a fact that is captured by a high Price of Stability (PoS) in recent literature [Blum…