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

Nicolás Rodríguez Arosemena

MPRA Paper from University Library of Munich, Germany

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.

Keywords: Game Theory; Artificial Intelligence; Dynamic Programming Squared; Imperfect Information Games; Law and Economics (search for similar items in EconPapers)
JEL-codes: C7 C73 D6 K0 (search for similar items in EconPapers)
Date: 2018-12-15
New Economics Papers: this item is included in nep-big, nep-cmp, nep-gth, nep-law and nep-pay
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:90560

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