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How AI Agents for Commerce Could Shape Future Markets (MIT IDE) WEBSITE retrieval pending
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QUOTE {} | The researchers call the potential shift in transaction costs a 'Coasean Singularity,' in a nod to the economist Ronald Coase, who in 1937 posited that transaction costs shape how firms and markets organize. |
QUOTE {} | AI agents, the authors assert, are poised to dramatically reduce transaction costs, and that when those costs collapse, market structures change, too. |