↗ ↗ Download This Paper Open PDF in Browser Add Paper to My Library 48 Pages Posted: 15 Apr 2024 Last revised: 11 Feb 2025 See all articles by Noam Kolt HOME PAGE: http://www.noamkolt.com/ Download This Paper Open PDF in Browser ; Ai "speech , Tatsunori Peter Henderson , Mark Hashimoto , Lemley J. FREE SPEECH L , volume 3 Posted: 2023 N Peter , Salib L. REV , volume 83 Posted: 2024 See Ruan E G See , Richard Fang ARXIV , p. 9 - 13 Posted: 2024-02-16 Place Job Opening 70 Citation Indexes: 1 Policy Citations: 1 Abstract Views: 11418 Downloads: 4253 Readers: 21 News Mentions: 4 Citation Indexes: 1 Policy Citations: 1 Abstract Views: 11418 Downloads: 4253 Readers: 21 News Mentions: 4 Follow Follow Follow Follow Follow Follow Follow Follow Follow Follow Follow Follow Follow Follow Follow Follow Follow Follow Follow Follow Follow Follow Follow Follow Feedback Feedback (required) Email (required) Submit a Paper This page was processed by aws-apollo-l200 in 0.100 seconds This page was processed by aws-apollo-l200 in 0.100 seconds This page was processed by aws-apollo-l200 in 0.100 seconds 0.100 Make use of personalized features like alerts and saved searches Notre Dame Law Review, Vol. 101, Forthcoming 48 PagesPosted: 15 Apr 2024Last revised: 11 Feb 2025 Hebrew University of Jerusalem Date Written: February 11, 2025 The field of AI is undergoing a fundamental transition—from generative models that can produce synthetic content to artificial agents that can plan and execute complex tasks with only limited human involvement. Companies that pioneered the development of language models have now built AI agents that can independently navigate the internet, perform a wide range of online tasks, and increasingly serve as AI personal assistants and virtual coworkers. The opportunities presented by this new technology are tremendous, as are the associated risks. Fortunately, there exist robust analytic frameworks for confronting many of these challenges, namely, the economic theory of principal-agent problems and the common law doctrine of agency relationships. Drawing on these frameworks, this Article makes three contributions. First, it uses agency law and theory to identify and characterize problems arising from AI agents, including issues of information asymmetry, discretionary authority, and loyalty. Second, it illustrates the limitations of conventional solutions to agency problems: incentive design, monitoring, and enforcement might not be effective for governing AI agents that make uninterpretable decisions and operate at unprecedented speed and scale. Third, the Article explores the implications of agency law and theory for designing and regulating AI agents, arguing that new technical and legal infrastructure is needed to support governance principles of inclusivity, visibility, and liability. Keywords: Artificial Intelligence, AI Agents, Principal-Agent Problems, Agency Law and Theory, Incentive Design, Monitoring, Enforcement, Regulation and Governance, Autonomous Agents, AI Assistants JEL Classification: D18, K10, K20, K24, K30, K42, L86, O31, O33, O38, Z18 Suggested Citation:Suggested Citation HOME PAGE: http://www.noamkolt.com/ Economics of Networks eJournal Subscribe to this free journal for more curated articles on this topic U.S. Constitutional Law: Rights & Liberties eJournal Subscribe to this fee journal for more curated articles on this topic Cyberspace Law eJournal Subscribe to this fee journal for more curated articles on this topic Corporate Governance Law eJournal Subscribe to this fee journal for more curated articles on this topic Contracts & Commercial Law eJournal Subscribe to this fee journal for more curated articles on this topic Discrimination, Law & Justice eJournal Subscribe to this fee journal for more curated articles on this topic Public Economics: Miscellaneous Issues eJournal Subscribe to this fee journal for more curated articles on this topic IO: Productivity, Innovation & Technology eJournal Subscribe to this fee journal for more curated articles on this topic IO: Regulation, Antitrust & Privatization eJournal Subscribe to this fee journal for more curated articles on this topic Law, Norms & Informal Order eJournal Subscribe to this fee journal for more curated articles on this topic Canadian Law eJournal Subscribe to this fee journal for more curated articles on this topic Corporate Social Responsibility (CSR) eJournal Subscribe to this fee journal for more curated articles on this topic Torts & Product Liability Law eJournal Subscribe to this fee journal for more curated articles on this topic Law & Society: Private Law - Contracts eJournal Subscribe to this fee journal for more curated articles on this topic Philosophy of Law eJournal Subscribe to this free journal for more curated articles on this topic Telecommunications & Regulated Industries eJournal Subscribe to this fee journal for more curated articles on this topic Ethics eJournal Subscribe to this free journal for more curated articles on this topic Sustainable Technology eJournal Subscribe to this fee journal for more curated articles on this topic Law & Economics eJournal Subscribe to this fee journal for more curated articles on this topic Information Privacy Law eJournal Subscribe to this fee journal for more curated articles on this topic Artificial Intelligence eJournal Subscribe to this fee journal for more curated articles on this topic Innovation Law & Policy eJournal Subscribe to this fee journal for more curated articles on this topic Cybersecurity, Privacy, & Networks eJournal Subscribe to this fee journal for more curated articles on this topic Emerging Legal Issues in Information Systems eJournal Subscribe to this fee journal for more curated articles on this topic All content on this site: Copyright © 2024 Elsevier Inc., its licensors, and contributors. 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