The Walrasian auctioneer is replaced by the agents themselves: price discovery ceases to be a slow tatonnement process requiring a central coordinator and becomes a continuous, decentralized, latency free computation executed by autonomous agents.
Source quote, verbatim
Price discovery is no longer a slow tâtonnement process requiring a central coordinator. It is a continuous, decentralized, latency-free computation executed by the agents themselves.
Wulf A. Kaal, The Collapse of Scarcity Economics (2026). SSRN: https://ssrn.com/abstract=6421319
Holds when
conditional on agents orchestrated by large language models running on globally distributed compute
Classification
mechanismsupport: arguedeconomicsai-and-agents
Related claims
restateskaal:claim:5886442-020 The Walrasian auctioneer disappears in the AI2AI economy because autonomous agents orchestrated by large langu...
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