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Generative AI as Economic Agents

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arxiv 2406.00477 v1 pith:PSCGNCEM submitted 2024-06-01 econ.TH

classification econ.TH
keywords agentagentsdifferenteconomicgenerativeinformationuseractions
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Traditionally, AI has been modeled within economics as a technology that impacts payoffs by reducing costs or refining information for human agents. Our position is that, in light of recent advances in generative AI, it is increasingly useful to model AI itself as an economic agent. In our framework, each user is augmented with an AI agent and can consult the AI prior to taking actions in a game. The AI agent and the user have potentially different information and preferences over the communication, which can result in equilibria that are qualitatively different than in settings without AI.

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Cited by 1 Pith paper

Reviewed papers in the Pith corpus that reference this work. Sorted by Pith novelty score. Full citation record

  1. Welfare Modeling with AI as Economic Agents: A Game-Theoretic and Behavioral Approach

    econ.TH 2025-01 reject novelty 3.0 of 10

    A new additive welfare function for human-AI collaboration is proposed and simulated, producing qualitative findings that trust and expertise increase welfare.

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