This fundamentals article discusses efficient machine economies in which non-human agents can autonomously exchange information and value. We first identify criteria for achieving Pareto efficiency in such economies by drawing on the Coase Theorem. We then translate these economic criteria to technical requirements before developing a framework that characterizes four types of machine economies. We discuss real-life examples for each type to highlight key challenges in achieving Pareto efficiency. In particular, we highlight that machine economies with human involvement in economic interactions and governance face significant challenges regarding perfect information, rationality, and transaction costs. Machine economies without human involvement, in turn, promise a high degree of Pareto efficiency, but there are still many open questions, particularly regarding machine-enforced governance. We conclude with opportunities for future research on the interactions and governance in machine economies.

这篇基础文章讨论了高效的机器经济，其中非人类代理可以自主交换信息和价值。我们首先利用科斯定理确定在此类经济体中实现帕累托效率的标准。然后，我们将这些经济标准转化为技术要求，然后开发一个表征四种机器经济特征的框架。我们讨论每种类型的现实例子，以强调实现帕累托效率的关键挑战。我们特别强调，人类参与经济互动和治理的机器经济面临着完美信息、理性和交易成本方面的重大挑战。反过来，没有人类参与的机器经济有望实现高度的帕累托效率，但仍然存在许多悬而未决的问题，特别是在机器强制治理方面。最后，我们提出了未来研究机器经济中的相互作用和治理的机会。