The economic approach to artificial intelligence (position paper)

MP Wellman

ACM Computing Surveys 27:360-362, 1995.
Copyright © 1995 ACM.

Abstract

To take an economic approach to anything typically invokes three premises. First, that the fundamental problem to be solved is one of resource allocation. Second, that it is useful to model behavior in terms of a rationality abstraction. And third, that it is essential to consider how authority and activity may be decentralized. All three of these premises are being increasingly adopted (explicitly or implicitly) in artificial intelligence, and growing numbers of AI researchers are working within the economic paradigm.

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