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The principal–agent problem typically arises where the two parties have different interests and asymmetric information (the agent having more information), such that the principal cannot directly ensure that the agent is always acting in the principal's best interest, particularly when activities that are useful to the principal are costly to ...
The Principal commits to a policy, then the agent responds, and then the state of nature is revealed. They assume that the principal and agent interact repeatedly, and may learn over time from the state history, using reinforcement learning. They assume that the agent is driven by regret-aversion. In particular, the agent minimizes his ...
The multiple principal problem, also known as the common agency problem, the multiple accountabilities problem, or the problem of serving two masters, is an extension of the principal-agent problem that explains problems that can occur when one person or entity acts on behalf of multiple other persons or entities. [1]
In microeconomics and contract theory, the first-order approach is a simplifying assumption used to solve models with a principal-agent problem. [1] It suggests that, instead of following the usual assumption that the agent will take an action that is utility-maximizing, the modeller use a weaker constraint, and looks only for actions which satisfy the first-order conditions of the agent's ...
Mathematical psychology is an approach to psychological research that is based on mathematical modeling of perceptual, thought, cognitive and motor processes, and on the establishment of law-like rules that relate quantifiable stimulus characteristics with quantifiable behavior (in practice often constituted by task performance).
Bayesian persuasion is a special case of a principal–agent problem: the principal is the sender and the agent is the receiver. It can also be seen as a communication protocol , comparable to signaling games ; [ 2 ] the sender must decide what signal to reveal to the receiver to maximize their expected utility .
The abductive result is agency, the distinctive human capacity to illuminate meaning in the embodiment of semiosis.” [34] By this one can understand that in many ways an agent’s ability to communicate is fundamental to their agentive nature, and intentionality is a key component of what a communicative agent communicates. Additionally, an ...
In a principal-agent problem, a principal, e.g. a firm, hires an agent to perform some task. In the context of AI safety, a human would typically take the principal role and the AI would take the agent role. As with the alignment problem, the principal and the agent differ in their utility functions.