By Peyman Shahidi, Gili Rusak, Benjamin S. Manning, Andrey Fradkin & John J. Horton: AI agents—autonomous systems that perceive, reason, and act on behalf of human principals—are poised to transform digital markets by dramatically reducing transaction costs. This chapter evaluates the economic implications of this transition, adopting a consumer-oriented view of agents as market participants that can search, negotiate, and […]
I call it “AI for markets in everything.” Here is the paper, and here is a relevant Twitter thread, there is now so much new work for economists to do…