Related papers: Markets are competitive if and only if P != NP
Corruption is an endemic societal problem with profound implications in the development of nations. In combating this issue, cross-national evidence supporting the effectiveness of the rule of law seems at odds with poorly realized outcomes…
Neural Networks are sensitive to various corruptions that usually occur in real-world applications such as blurs, noises, low-lighting conditions, etc. To estimate the robustness of neural networks to these common corruptions, we generally…
Current reinforcement learning methods fail if the reward function is imperfect, i.e. if the agent observes reward different from what it actually receives. We study this problem within the formalism of Corrupt Reward Markov Decision…
Economies are complex man-made systems where organisms and markets interact according to motivations and principles not entirely understood yet. The increasing dissatisfaction with the postulates of traditional economics i.e. perfectly…
As artificial intelligence increasingly automates decision-making in competitive markets, understanding the resulting dynamics and ensuring fair market mechanisms is essential. We investigate the multi-faceted decision-making of large…
We use an evolutionary game model to study the interplay between corporate environmental compliance and enforcement promoted by the policy maker in a country facing a pollution trap, i.e., a scenario in which the vast majority of firms do…
Competition between a complex system's constituents and a corresponding reward mechanism based on it have profound influence on the functioning, stability, and evolution of the system. But determining the dominance hierarchy or ranking…
Algorithmic fairness has emerged as a central issue in ML, and it has become standard practice to adjust ML algorithms so that they will satisfy fairness requirements such as Equal Opportunity. In this paper we consider the effects of…
Prediction markets provide an efficient means to assess uncertain quantities from forecasters. Traditional and competitive strictly proper scoring rules have been shown to incentivize players to provide truthful probabilistic forecasts.…
Cournot competition is a fundamental economic model that represents firms competing in a single market of a homogeneous good. Each firm tries to maximize its utility---a function of the production cost as well as market price of the…
We present a mechanism design, coupling an online collaboration software and a prediction market, which allows tracking down the very roots of individual incentives, actions and how these behaviors influence collective intelligence in terms…
If AI displaces human workers faster than the economy can reabsorb them, it risks eroding the very consumer demand firms depend on. We show that knowing this is not enough for firms to stop it. In a competitive task-based model, demand…
Coalition formation is a key problem in automated negotiation among self-interested agents, and other multiagent applications. A coalition of agents can sometimes accomplish things that the individual agents cannot, or can do things more…
Labor market institutions are central for modern economies, and their polices can directly affect unemployment rates and economic growth. At the individual level, unemployment often has a detrimental impact on people's well-being and…
Linear Fisher market is one of the most fundamental economic models. The market is traditionally examined on the basis of individual's price-taking behavior. However, this assumption breaks in markets such as online advertising and…
When can interventions in markets be designed to increase surplus robustly -- i.e., with high probability -- accounting for uncertainty due to imprecise information about economic primitives? In a setting with many strategic firms, each…
We prove that the classic problem of finding a competitive equilibrium in an exchange economy with indivisible goods, money, and unit-demand agents is PPAD-complete. In this "housing market", agents have preferences over the house and…
The economical world consists of a highly interconnected and interdependent network of firms. Here we develop temporal and structural network tools to analyze the state of the economy. Our analysis indicates that a strong clustering can be…
This article presents a general solution to the problem of computational complexity. First, it gives a historical introduction to the problem since the revival of the foundational problems of mathematics at the end of the 19th century.…
Researchers have long proposed using economic approaches to resource allocation in computer systems. However, few of these proposals became operational, let alone commercial. Questions persist about the economic approach regarding its…