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[FOR INTERNAL REVIEW] Andrey Fradkin - What Happens to Markets When AI Agents Do the Negotiating
If AI agents can represent us in negotiations, handle our hiring, shop on our behalf, and coordinate across firms without friction, a lot of what economists call market failures start to look solvable. That used to just be a thought experiment, but it might be getting closer and closer to reality.
Topics covered:
Why the entire economy right now is essentially a bet on AI yielding large productivity gains
The cosine singularity: what markets look like when agents negotiate on our behalf and transaction costs collapse
Why AI could potentially make the labor market more like professional…
The skinny
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