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The Dominium Mundi Game and the Case for Artificial Intelligence in Economics and the Law

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  • Rodríguez Arosemena, Nicolás

Abstract

This paper presents two conjectures that are the product of the reconciliation between modern economics and the long-standing jurisprudential tradition originated in Ancient Rome, whose influence is still pervasive in most of the world's legal systems. We show how these conjectures together with the theory that supports them can provide us with a powerful normative mean to solve the world's most challenging problems such as financial crises, poverty, wars, man-made environmental catastrophes and preventable deaths. The core of our theoretical framework is represented by a class of imperfect information game built completely on primitives (self-interest, human fallibility and human sociability) that we have called the Dominium Mundi Game (DMG) for reasons that will become obvious. Given the intrinsic difficulties that arise in solving this type of models, we advocate for the use of artificial intelligence as a potentially feasible method to determine the implications of the definitions and assumptions derived from the DMG's framework.

Suggested Citation

  • Rodríguez Arosemena, Nicolás, 2018. "The Dominium Mundi Game and the Case for Artificial Intelligence in Economics and the Law," MPRA Paper 90560, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:90560
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    More about this item

    Keywords

    Game Theory; Artificial Intelligence; Dynamic Programming Squared; Imperfect Information Games; Law and Economics;
    All these keywords.

    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
    • D6 - Microeconomics - - Welfare Economics
    • K0 - Law and Economics - - General

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