arXiv:2605. 13909v2 Announce Type: replace-cross Abstract: Negotiation is a central mechanism of economic exchange, shaping markets, procurement, labor agreements, and resource allocation.
arXiv:2608. 14613v1 Announce Type: new Abstract: Modern LLM-agent frameworks increasingly interoperate through standards such as Anthropic's Model Context Protocol (MCP) for agent-to-tool access and Google's Agent2Agent (A2A) protocol for agent delegation and negotiation.
arXiv:2607. 05863v1 Announce Type: new Abstract: Negotiation is a fundamental strategic interaction in management science, characterized by agents attempting to reach agreements while protecting private information, such as reservation costs and hidden valuations.
arXiv:2608. 07538v1 Announce Type: new Abstract: As LLM agents move from decision support to autonomous procurement, firms need to know whether delegated negotiators create value, divide it predictably, and avoid money-losing contracts.
arXiv:2606. 27397v1 Announce Type: cross Abstract: Evaluating LLM agents requires dynamic environments that go beyond static reasoning and zero-sum games.
Evaluating LLM agents requires dynamic environments that go beyond static reasoning and zero-sum games. Real-world economic interaction is often open-ended and mixed-motive: agents must negotiate, create positive-sum surplus, compete for scarce assets, and plan under delayed returns.
arXiv:2604. 11840v3 Announce Type: replace-cross Abstract: Language models are increasingly used to simulate people: survey respondents, negotiators, stakeholders in policy exercises.
arXiv:2609.33289v2 Announce Type: replace Abstract: Autonomous large language model (LLM) agents operating in multi-product markets must make sequential decisions under information asymmetry and reso...
arXiv:2602. 05302v3 Announce Type: replace Abstract: We present an in-depth evaluation of LLMs' ability to negotiate, a central business task requiring strategic reasoning, theory of mind, and economic value creation.
The paper investigates why large language models (LLMs) struggle in strategic decision-making under incomplete information. It identifies two key gaps: an observation‑belief gap where LLMs’ internal representations of game states are accurate but brittle, and a belief‑action gap where converting these internal beliefs into actions is weak, leading to suboptimal payoffs. Experiments with Llama 3.1, Qwen3, and gpt‑oss confirm that acting optimally on decoded beliefs would improve outcomes in most games, highlighting a bottleneck in belief‑to‑action conversion.
arXiv:2608. 10475v1 Announce Type: new Abstract: The emergence of language-based AI agents promises to transform the scope of machine economic activity.
ERPBench is a benchmark that evaluates large language model agents in enterprise decision-making through a six‑round ERP simulation covering pricing, production, procurement, inventory, finance, and market competition. It tests the same 100 problems in two market ecologies—Solo, where agents compete against rule‑based opponents, and Arena, where six agents compete together—producing 1,200 model trajectories across 7,200 decision rounds. Results show that model performance varies by ecology, with DeepSeek best in Solo and Gemini best in Arena, and only 21 of 100 problems yield the same top performer across both settings.
The study investigates how large language models (LLMs) perform in a double auction market, a common economic mechanism. By replacing human participants with LLM agents, the authors find that markets with LLMs converge more slowly or not at all, leading to less efficient resource allocations. Analysis of trading decisions reveals significant variation across model families and roles, and a lexical study of Chain-of-Thought traces links trade execution to a shift from strategic thinking to urgency.