Coasean Bargaining at Scale

https://blog.cosmos-institute.org/p/coasean-bargaining-at-scale

• AI will give a new economic layer where agents transact and coordinate at scales and speeds beyond direct human oversight.
• You will have models that are your fiduciaries
• AGI could enable hyper-granular contracting.
• In this scenario, the externality doesn't vanish, but it does get a price tag. And once a cost is made clear, the marvel of the market can solve it. The problem was never the pollution itself; it was the fact that the polluter was allowed to impose a health and financial cost onto you for free.

• The Coasean framework does not eliminate the state, but it transitions its role from “central planner” to “framework guarantor’”
• Re:Alignment problem: What we need to ensure is that agents that genuinely serve their users' interests will outcompete those that don't and build the right governance mechanisms.
  • unlike solving alignment for a singular, centralized AGI (where failure is catastrophic), the distributed model of millions of user-agent relationships creates a massive parallel experiment.