Related papers: Capability-Priced Micro-Markets: A Micro-Economic …
Automated Market Makers (AMMs) are a central component of decentralized exchanges, yet their equilibrium foundations and microeconomic mechanisms remain incompletely understood. This paper develops a dynamic equilibrium framework for…
Automated market makers (AMMs) are a new type of trading venues which are revolutionising the way market participants interact. At present, the majority of AMMs are constant function market makers (CFMMs) where a deterministic trading…
The fragmentation of AI agent ecosystems has created urgent demands for interoperability, trust, and economic coordination that current protocols -- including MCP (Hou et al., 2025), A2A (Habler et al., 2025), ACP (Liu et al., 2025), and…
Large language model (LLM)-based agents are increasingly expected to negotiate, coordinate, and transact autonomously, yet existing benchmarks lack principled settings for evaluating language-mediated economic interaction among multiple…
This paper introduces the Minimum Price Markov Game (MPMG), a theoretical model that reasonably approximates real-world first-price markets following the minimum price rule, such as public auctions. The goal is to provide researchers and…
As foundation models are increasingly deployed as interacting agents in multi-agent systems, their collective behavior raises new challenges for trustworthiness, transparency, and accountability. Traditional coordination mechanisms, such as…
As multi-agent systems evolve to encompass increasingly diverse and specialized agents, the challenge of enabling effective collaboration between heterogeneous agents has become paramount, with traditional agent communication protocols…
Batch auctions are a classical market microstructure, acclaimed for their fairness properties, and have received renewed interest in the context of blockchain-based financial systems. Constant function market makers (CFMMs) are another…
Within this work we consider an axiomatic framework for Automated Market Makers (AMMs). AMMs are smart contracts that set prices for swaps on a pool of assets. By imposing reasonable axioms on the underlying utility function, we are able to…
The availability of public computing resources in the cloud has revolutionized data analysis, but requesting cloud resources often involves complex decisions for consumers. Under the current pricing mechanisms, cloud service providers offer…
We present our Agent-Based Market Microstructure Simulation (ABMMS), an Agent-Based Financial Market (ABFM) that captures much of the complexity present in the US National Market System for equities (NMS). Agent-Based models are a natural…
The study proposes a quote-driven predictive automated market maker (AMM) platform with on-chain custody and settlement functions, alongside off-chain predictive reinforcement learning capabilities to improve liquidity provision of…
The programmable and composable nature of smart contract protocols has enabled the emergence of novel market structures and asset classes that are architecturally frictional to implement in traditional financial paradigms. This fluidity has…
Agentic AI, often powered by large language models (LLMs), is becoming increasingly popular and adopted to support autonomous reasoning, decision-making, and task execution across various domains. While agentic AI holds great promise, its…
Large language models (LLMs) have enabled a new class of agentic AI systems that reason, plan, and act by invoking external tools. However, most existing agentic architectures remain centralized and monolithic, limiting scalability,…
In this paper, we outline a framework for modeling utility-based blockchain-enabled economic systems using Agent Based Modeling (ABM). Our approach is to model the supply dynamics based on metrics of the cryptoeconomy. We then build…
The smart grid incentivizes distributed agents with local generation (e.g., smart homes, and microgrids) to establish multi-agent systems for enhanced reliability and energy consumption efficiency. Distributed energy trading has emerged as…
This paper explores the economic interactions within modern crowdsourcing markets. In these markets, employers issue requests for tasks, platforms facilitate the recruitment of crowd workers, and workers complete tasks for monetary rewards.…
Firm competition and collusion involve complex dynamics, particularly when considering communication among firms. Such issues can be modeled as problems of complex systems, traditionally approached through experiments involving human…
We study decentralized markets for goods whose utility perishes in time, with compute as a primary motivation. Recent advances in reproducible and verifiable execution allow jobs to pause, verify, and resume across heterogeneous hardware,…