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1. Verfasser: Helou, Nassim
Format: Preprint
Veröffentlicht: 2026
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Online-Zugang:https://arxiv.org/abs/2601.03451
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author Helou, Nassim
author_facet Helou, Nassim
contents 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 Markov decision process with strategic externalities, where both the principal and the agent learn over time. We propose a two-phase incentive mechanism that first estimates implementable transfers and then uses them to steer long-run dynamics; under mild regret-based rationality and exploration conditions, the mechanism achieves sublinear social-welfare regret and thus asymptotically optimal welfare. Simulations illustrate how even coarse incentives can correct inefficient learning under stateful externalities, highlighting the necessity of incentive-aware design for safe and welfare-aligned AI in markets and insurance.
format Preprint
id arxiv_https___arxiv_org_abs_2601_03451
institution arXiv
publishDate 2026
record_format arxiv
spellingShingle Microeconomic Foundations of Multi-Agent Learning
Helou, Nassim
Machine Learning
Artificial Intelligence
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 Markov decision process with strategic externalities, where both the principal and the agent learn over time. We propose a two-phase incentive mechanism that first estimates implementable transfers and then uses them to steer long-run dynamics; under mild regret-based rationality and exploration conditions, the mechanism achieves sublinear social-welfare regret and thus asymptotically optimal welfare. Simulations illustrate how even coarse incentives can correct inefficient learning under stateful externalities, highlighting the necessity of incentive-aware design for safe and welfare-aligned AI in markets and insurance.
title Microeconomic Foundations of Multi-Agent Learning
topic Machine Learning
Artificial Intelligence
url https://arxiv.org/abs/2601.03451