Related papers: Algorithmic Contract Theory: A Survey
Affordances are key attributes of what must be perceived by an autonomous robotic agent in order to effectively interact with novel objects. Historically, the concept derives from the literature in psychology and cognitive science, where…
Although both data availability and the demand for accurate forecasts are increasing, collaboration between stakeholders is often constrained by data ownership and competitive interests. In contrast to recent proposals within cooperative…
This paper surveys the emerging science of how to design a ``COllective INtelligence'' (COIN). A COIN is a large multi-agent system where: (i) There is little to no centralized communication or control; and (ii) There is a provided world…
Modern AI systems increasingly operate inside markets and institutions where data, behavior, and incentives are endogenous. This paper develops an economic foundation for multi-agent learning by studying a principal-agent interaction in a…
The use of computer technology to automate the enforcement of law is a promising alternative to simplify bureaucratic procedures. However, careless automation might result in an inflexible and dehumanise law enforcement system driven by…
We study the optimal design of electricity contracts among a population of consumers with different needs. This question is tackled within the framework of Principal-Agent problems in presence of adverse selection. The particular features…
The interconnectivity of cyber and physical systems and Internet of things has created ubiquitous concerns of cyber threats for enterprise system managers. It is common that the asset owners and enterprise network operators need to work…
Much work in computer science has adopted competitive analysis as a tool for decision making under uncertainty. In this work we extend competitive analysis to the context of multi-agent systems. Unlike classical competitive analysis where…
An appealing feature of blockchain technology is smart contracts. A smart contract is executable code that runs on top of the blockchain to facilitate, execute and enforce an agreement between untrusted parties without the involvement of a…
We consider a principal-agent problem where the agent may privately choose to acquire relevant information prior to taking a hidden action. This model generalizes two special cases: a classic moral hazard setting, and a more recently…
We analyze how firms should design wage contracts when workers collaborate in teams and effort costs depend on colleagues through a peer network. Performance-based compensation generates incentives that cascade through the organization,…
Mechanism design is a central research branch in microeconomics. An effective mechanism can significantly improve performance and efficiency of social decisions under desired objectives, such as to maximize social welfare or to maximize…
Motivated by the emergence of decentralized machine learning (ML) ecosystems, we study the delegation of data collection. Taking the field of contract theory as our starting point, we design optimal and near-optimal contracts that deal with…
The concept of "task" is at the core of artificial intelligence (AI): Tasks are used for training and evaluating AI systems, which are built in order to perform and automatize tasks we deem useful. In other fields of engineering theoretical…
Contemporary scientific research is a distributed, collaborative endeavor, carried out by teams of researchers, regulatory institutions, funding agencies, commercial partners, and scientific bodies, all interacting with each other and…
A blockchain-based smart contract or a "smart contract" for short, is a computer program intended to digitally facilitate the negotiation or contractual terms directly between users when certain conditions are met. With the advance in…
This paper concentrates on the representation of the legal relations that obtain between parties once they have entered a contractual agreement and their evolution as the agreement progresses through time. Contracts are regarded as process…
Smart Contracts use computer technology to automate the performance of aspects of commercial agreements. Yet how can there be confidence that the computer code is faithful to the intentions of the parties? To understand the depth and…
We use the theory of cooperative games for the design of fair insurance contracts. An insurance contract needs to specify the premium to be paid and a possible participation in the benefit (or surplus) of the company. It results from the…
In an online contract selection problem there is a seller which offers a set of contracts to sequentially arriving buyers whose types are drawn from an unknown distribution. If there exists a profitable contract for the buyer in the offered…