Global approximations for principal agent theory

Federico Cerutti, Nir Oren, Christopher Burnett

Research output: Chapter in Book/Report/Conference proceedingConference contribution

1 Citation (Scopus)

Abstract

Principal Agent Theory (PAT) seeks to identify incentives and sanctions that a consumer should offer a producer as part of a contract in order to maximise the former's utility. However, identifying optimal contracts in large systems is difficult, particularly when little information is available about producer competencies. In this work we propose that a global contract be used to govern such interactions, derived from the properties of a representative agent. After describing how such a contract can be obtained, we analyse the contract utility space and its properties. Finally, we suggest how our work can be integrated with existing work on multi-agent systems.

Original languageEnglish
Title of host publicationAAMAS 2015 - Proceedings of the 2015 International Conference on Autonomous Agents and Multiagent Systems
PublisherInternational Foundation for Autonomous Agents and Multiagent Systems (IFAAMAS)
Pages1845-1846
Number of pages2
Volume3
ISBN (Electronic)9781450337717
Publication statusPublished - 2015
Event14th International Conference on Autonomous Agents and Multiagent Systems, AAMAS 2015 - Istanbul, Turkey
Duration: 4 May 20158 May 2015

Conference

Conference14th International Conference on Autonomous Agents and Multiagent Systems, AAMAS 2015
CountryTurkey
CityIstanbul
Period4/05/158/05/15

Keywords

  • Cold start problem
  • Principal agent theory

ASJC Scopus subject areas

  • Artificial Intelligence
  • Software
  • Control and Systems Engineering

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  • Cite this

    Cerutti, F., Oren, N., & Burnett, C. (2015). Global approximations for principal agent theory. In AAMAS 2015 - Proceedings of the 2015 International Conference on Autonomous Agents and Multiagent Systems (Vol. 3, pp. 1845-1846). International Foundation for Autonomous Agents and Multiagent Systems (IFAAMAS). http://www.ifaamas.org/Proceedings/aamas2015/aamas/p1845.pdf