This position paper argues that there is an urgent need to restructure markets for the information that goes into AI systems. Specifically, producers of information goods (such as journalists, researchers, and creative professionals) need to be able to collectively bargain with AI product builders in order to receive reasonable terms and a sustainable return on the informational value they contribute. We argue that without increased market coordination or collective bargaining on the side of these primary information producers, AI will exacerbate a large-scale "information market failure" that will lead not only to undesirable concentration of capital, but also to a potential "ecological collapse" in the informational commons. On the other hand, collective bargaining in the information economy can create market frictions and aligned incentives necessary for a pro-social, sustainable AI future. We provide concrete actions to support a coalition-based approach to achieve this goal. For example, researchers and developers can establish technical mechanisms such as federated data management tools and explainable data value estimation techniques to inform and facilitate collective bargaining in the information economy. Additionally, regulatory and policy interventions may be introduced to support trusted data intermediary organizations representing guilds or syndicates of information producers.

We begin by characterizing the space of elements that test an agent's ability to optimally allocate1031 their limited resources to goods and services they desire. In economics and decision theory, the1032 most primitive approach to describing the preferences of decision-makers is to use a function that1033 maps a set of possible choices to the agent's optimal choice within that set. Under a set of intuitive1034 assumptions, such as transitivity (i.e., if bundle X is preferred to bundle Y, and Y is preferred to1035 bundle Z, then X must be preferred to Z), it becomes possible to "rationalize" preferences by instead1036 describing a utility function. This function assigns a real number to each bundle, and the agent selects1037 the bundle with the highest utility.1038 In this paper, we focus on these "rationalizable" preferences, where agent choice can be implemented1039 as utility maximization constrained by prices and income. The solution to these consumer choice1040 problems provides ...

Large language models (LLMs) are increasingly being asked to make economically rational decisions and indeed are already being applied to economic tasks like stock picking and financial analysis. Existing LLM benchmarks tend to focus on specific applications, making them insufficient for characterizing economic reasoning more broadly. In previous work, we offered a blueprint for comprehensively benchmarking strategic decision-making Raman et al. [2024]. However, this work did not engage with the even larger microeconomic literature on non-strategic settings. We address this gap here, taxonomizing microeconomic reasoning into 58distinct elements, each grounded in up to 10distinct domains, 5perspectives, and 3types. The generation of benchmark data across this combinatorial space is powered by a novel LLM-assisted data generation protocol that we dub auto-STEER, which generates a set of questions by adapting handwritten templates to target new domains and perspectives. By generating fresh questions for each element, auto-STEER induces diversity which could help to reduce the risk of data contamination. We use this benchmark to evaluate 27LLMs spanning a range of scales and adaptation strategies, comparing performance across multiple formats--multiple-choice and free-text question answering--and scoring schemes. Our results surface systematic limitations in current LLMs' ability to generalize economic reasoning across types, formats, and textual perturbations, and establish a foundation for evaluating and improving economic competence in foundation models.

Russia’s defense ministry said 555 drones were shot down across the country. Sobyanin said 180 were shot down around Moscow alone.

LinkerBot makes dexterous robotic hands for as little as $600. It wants to become the standard for humanoids and automated factories--and eventually replace human labor altogether. If you could buy a humanoid robot for less than a smartphone, would you? Would you buy several robots to handle cooking, cleaning, babysitting, and even your job? This is the pitch being made by Zhou Yong, the 40-year-old founder and chief technology officer of LinkerBot, one of China's leading manufacturers of dexterous humanoid hands.

Russia has threatened to launch a fresh wave of systematic strikes against Kyiv, days after carrying out one of its largest attacks on the Ukrainian capital since the start of the war. The new strikes will target decision-making centres and command posts, alongside drone manufacturing facilities in the city, Russia's foreign ministry said in a statement. Moscow has called for foreign nationals and diplomats to leave Kyiv as soon as possible and warned citizens to stay away from administrative and military buildings. Large-scale Russian strikes on Saturday night killed four and injured about 100 people in Kyiv and other areas, Ukrainian President Volodymyr Zelensky said. Moscow said that barrage and threatened further strikes were in response to what it claims was a deliberate Ukrainian attack on a student dormitory in the town of Starobilsk on Friday, in which Russian officials said 21 people were killed.

The boss of Standard Chartered has apologised after describing employees whose jobs are vulnerable to being replaced by Artificial Intelligence (AI) as lower value human capital. Discussing how automation was likely to lead to thousands of job cuts at the bank at a recent conference, Bill Winters said it wasn't about cost cutting but replacing, in some cases, lower value, human capital, with the financial capital and the investment capital that we're putting in. He later sought to contextualise the remarks via LinkedIn and said he was sorry for his wording, which had caused upset to some colleagues. He said he was committed to helping staff cope with the accelerating pace of change. The rise of AI tools has led to predictions of huge job losses, particularly for tech workers and graduates.

Bulgarian pop star Dara was met by a crowd of fans in Sofia airport on Sunday, celebrating her historic Eurovision win. The 27-year-old's tune Bangaranga won Bulgaria its first ever title in the song contest. Thank you for being here, she told fans as she arrived in the Bulgarian capital, Sofia, before adding I cannot wait to dip my toes in this atmosphere. Russia launched one of the biggest air strikes on Kyiv since the start of the war with several apartment blocks hit. Why is the Princess of Wales in Italy this week?

Eurovision 2026 has come to a close, with Bulgaria crowned winner and Israel in second place after a nail-biting public vote. The UK finished last after receiving no points in the public vote, and history was made by Ukraine's entry for holding the contest's longest ever note. Russia launched one of the biggest air strikes on Kyiv since the start of the war with several apartment blocks hit. Why is the Princess of Wales in Italy this week? The Princess of Wales received an enthusiastic welcome from Italian crowds, on her return to overseas visits following her treatment for cancer.

A Ukrainian drone hit an upmarket residential high-rise in Moscow in the early hours of Monday, resulting in no casualties but causing visible damage to the façade of the building. It was the third night in a row that the Russian capital came under attack from drones, days before Russia holds a scaled-back 9 May parade to mark the Soviet Union's victory over Nazi Germany. An unverified video circulating on social media showed firemen entering a heavily damaged flat covered in dust and rubble and with blown-out windows, while another showed drone debris strewn across the street below. Two other drones were intercepted, Mayor Sergei Sobyanin said. Vnukovo and Domodedovo international airports suspended operations overnight.