相关论文: Market Concentration Implications of Foundation Mo…
The release of ChatGPT, Gemini, and other large language model has drawn huge interests on foundations models. There is a broad consensus that foundations models will be the fundamental building blocks for future AI systems. However, there…
We consider a financial market in which traders potentially face restrictions in trading some of the available securities. Traders are heterogeneous with respect to their beliefs and risk profiles, and the market is assumed thin: traders…
The AI alignment problem comprises both technical and normative dimensions. While technical solutions focus on implementing normative constraints in AI systems, the normative problem concerns determining what these constraints should be.…
The scientific innovation in Natural Language Processing (NLP) and more broadly in artificial intelligence (AI) is at its fastest pace to date. As large language models (LLMs) unleash a new era of automation, important debates emerge…
In digital markets, antitrust law and special regulations aim to ensure that markets remain competitive despite the dominating role that digital platforms play today in everyone's life. Unlike traditional markets, market participant…
The Aiming for AI Interoperability report investigates the ongoing challenge of achieving regulatory and technical AI interoperability as national and global AI governance efforts are proliferating. Here, technical interoperability is the…
Platform giants in China have operated with persistently compressed margins in highly concentrated markets for much of the past decade, despite market shares exceeding 60\% in core segments. Standard theory predicts otherwise: either the…
As the scale of machine learning models increases, trends such as scaling laws anticipate consistent downstream improvements in predictive accuracy. However, these trends take the perspective of a single model-provider in isolation, while…
This book discusses the necessity and perhaps urgency for the regulation of algorithms on which new technologies rely; technologies that have the potential to re-shape human societies. From commerce and farming to medical care and…
This paper revisits the classic instrument choice problem in a setting with consumption externalities, through the lens of robust mechanism design. A regulator can implement any incentive-compatible policy but is uncertain about how…
The field of AI is undergoing a fundamental transition from generative models that can produce synthetic content to artificial agents that can plan and execute complex tasks with only limited human involvement. Companies that pioneered the…
We consider the problem of how to regulate an oligopoly when firms have private information about their costs. In the environment, consumers make discrete choices over goods, and minimal structure is placed on the manner in which firms…
A financial market is a system resulting from the complex interaction between participants in a closed economy. We propose a minimal microscopic model of the financial market economy based on the real economy's symmetry constraint and…
We study the efficiency of allocations in large markets with a network structure where every seller owns an edge in a graph and every buyer desires a path connecting some nodes. While it is known that stable allocations in such settings can…
This position paper argues that there is an urgent need to restructure markets for the information that goes into AI systems. Specifically, producers of information goods (such as journalists, researchers, and creative professionals) need…
Personalized pricing is a business strategy to charge different prices to individual consumers based on their characteristics and behaviors. It has become common practice in many industries nowadays due to the availability of a growing…
Generative model ecosystems increasingly operate as competitive multi-platform markets, where platforms strategically select models from a shared pool and users with heterogeneous preferences choose among them. Understanding how platforms…
Increasingly, laws are being proposed and passed by governments around the world to regulate Artificial Intelligence (AI) systems implemented into the public and private sectors. Many of these regulations address the transparency of AI…
Foundation models including large language models (LLMs) are increasingly attracting interest worldwide for their distinguished capabilities and potential to perform a wide variety of tasks. Nevertheless, people are concerned about whether…
AI companies increasingly develop and deploy privacy-enhancing technologies, bias-constraining measures, evaluation frameworks, and alignment techniques -- framing them as addressing concerns related to data privacy, algorithmic fairness,…