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The AI Economist - Improving Equality and Productivity with AI-Driven Tax Policies

Yannic Kilcher via YouTube

Overview

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Explore a groundbreaking 35-minute video analysis of "The AI Economist" paper, which investigates the use of AI-driven tax policies to improve equality and productivity. Delve into a unique framework where reinforcement learning agents maximize wealth in a simulated economy while an AI government optimizes social welfare through taxation. Examine the paper's methodology, including the two-level deep reinforcement learning approach and the economic simulation environment. Discover how AI-derived tax policies outperform baseline systems, including the Saez tax framework, by 16% in balancing equality and productivity. Learn about emergent features such as higher top tax rates and increased subsidies for low incomes, as well as the AI's effectiveness against tax-gaming strategies. Finally, understand the implications of applying these AI-driven policies in experiments with human participants on Amazon Mechanical Turk.

Syllabus

Introduction
Paper Overview
Social Welfare
Free Market Games
Tax Strategies
Double Periodic Game
Architecture
Tax brackets
Human experiments

Taught by

Yannic Kilcher

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