The Walrasian auctioneer disappears in the AI2AI economy because autonomous agents orchestrated by large language models and running on globally distributed compute negotiate directly and simultaneously across all markets at machine speed.
Source quote, verbatim
First, the auctioneer disappears. Autonomous agents, orchestrated by large language models and running on globally distributed compute, negotiate directly and simultaneously across all markets at machine speed
From
Wulf A. Kaal, The AI-to-AI Economy and the Collapse of Anthropocentric Economic Theory (2025), General Equilibrium Theory and Static or Stochastic Equilibria, p. 18 https://ssrn.com/abstract=5886442 · source PDF
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Wulf A. Kaal, The AI-to-AI Economy and the Collapse of Anthropocentric Economic Theory (2025). SSRN: https://ssrn.com/abstract=5886442
Classification
mechanismsupport: arguedeconomics
Related claims
restated_bykaal:claim:6421319-025 The Walrasian auctioneer is replaced by the agents themselves: price discovery ceases to be a slow tatonnement...
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