Related papers: When cooperation is beneficial to all agents
The existence of a (partial) market equilibrium price is proved in a complete, continuous time finite-agent market setting. The economic agents act as price takers in a fully competitive setting and maximize exponential utility from…
We consider a discrete-time financial market model with finite time horizon and give conditions which guarantee the existence of an optimal strategy for the problem of maximizing expected terminal utility. Equivalent martingale measures are…
In this paper, we study expected utility maximization under ratchet and drawdown constraints on consumption in a general incomplete semimartingale market using duality methods. The optimization is considered with respect to two parameters:…
We consider two sided matching markets consisting of agents with non-transferable utilities; agents from the opposite sides form matching pairs (e.g., buyers-sellers) and negotiate the terms of their math which may include a monetary…
We consider the problem of maximizing expected utility from consumption in a constrained incomplete semimartingale market with a random endowment process, and establish a general existence and uniqueness result using techniques from convex…
Enforcing cooperation among substantial agents is one of the main objectives for multi-agent systems. However, due to the existence of inherent social dilemmas in many scenarios, the free-rider problem may arise during agents' long-run…
We consider the classic principal-agent model of contract theory, in which a principal designs an outcome-dependent compensation scheme to incentivize an agent to take a costly and unobservable action. When all of the model…
We have studied here the self-organising features of the dynamics of a model market, where the agents `trade' for a single commodity with their money. The model market consists of fixed numbers of economic agents, money supply and…
In this paper we investigate the notion of legibility in sequential decision-making in the context of teams and teamwork. There have been works that extend the notion of legibility to sequential decision making, for deterministic and for…
We consider reallocation problems in settings where the initial endowment of each agent consists of a subset of the resources. The private information of the players is their value for every possible subset of the resources. The goal is to…
We study the role of imitation within the Minority Game model of market. The players can exchange information locally, which leads to formation of groups which act as if they were single players. Coherent spatial areas of rich and poor…
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.…
Multi-agent reinforcement learning (MARL) has shown recent success in increasingly complex fixed-team zero-sum environments. However, the real world is not zero-sum nor does it have fixed teams; humans face numerous social dilemmas and must…
Coalitional control is concerned with the management of multi-agent systems where cooperation cannot be taken for granted (due to, e.g., market competition, logistics). This paper proposes a model predictive control (MPC) framework aimed at…
Civic Crowdfunding (CC) uses the ``power of the crowd'' to garner contributions towards public projects. As these projects are non-excludable, agents may prefer to ``free-ride,'' resulting in the project not being funded. For single project…
The Walras approach to equilibrium focuses on the existence of market prices at which the total demands for goods are matched by the total supplies. Trading activities that might identify such prices by bringing agents together as potential…
We propose to study market efficiency from a computational viewpoint. Borrowing from theoretical computer science, we define a market to be \emph{efficient with respect to resources $S$} (e.g., time, memory) if no strategy using resources…
We consider a simple model of rational agents competing in a single product market described by simple linear demand curve. Contrary to accepted economic theory, the agents' production levels synchronise in the absence of conscious…
Given an initial matching and a policy objective on the distribution of agent types to institutions, we study the existence of a mechanism that weakly improves the distributional objective and satisfies constrained efficiency, individual…
The intent of control argumentation frameworks is to specifically model strategic scenarios from the perspective of an agent by extending the standard model of argumentation framework in a way that takes unquantified uncertainty regarding…