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Large Language Models (LLMs) have been increasingly used in real-world settings, yet their strategic decision-making abilities remain largely unexplored. To fully benefit from the potential of LLMs, it's essential to understand their…

LLMs are increasingly used in applications where they interact with humans and other agents. We propose to use behavioural game theory to study LLM's cooperation and coordination behaviour. We let different LLMs play finitely repeated…

This paper investigates the strategic decision-making capabilities of three Large Language Models (LLMs): GPT-3.5, GPT-4, and LLaMa-2, within the framework of game theory. Utilizing four canonical two-player games -- Prisoner's Dilemma,…

As Large Language Models (LLMs) are integrated into critical real-world applications, their strategic and logical reasoning abilities are increasingly crucial. This paper evaluates LLMs' reasoning abilities in competitive environments…

Game theory has long served as a foundational tool in cybersecurity to test, predict, and design strategic interactions between attackers and defenders. The recent advent of Large Language Models (LLMs) offers new tools and challenges for…

Game theory, as an analytical tool, is frequently utilized to analyze human behavior in social science research. With the high alignment between the behavior of Large Language Models (LLMs) and humans, a promising research direction is to…

We evaluate Large Language Models (LLMs) in repeated game-theoretic settings to assess whether strategic performance reflects genuine reasoning or reliance on memorized patterns. We consider two canonical games, Prisoner's Dilemma (PD) and…

Large language models (LLMs) are increasingly deployed to support human decision-making. This use of LLMs has concerning implications, especially when their prescriptions affect the welfare of others. To gauge how LLMs make social…

This paper examines the reasoning capabilities of Large Language Models (LLMs) from a novel perspective, focusing on their ability to operate within formally specified, rule-governed environments. We evaluate four LLMs (Gemini 2.5 Pro and…

Large Language Models (LLMs) harness extensive data from the Internet, storing a broad spectrum of prior knowledge. While LLMs have proven beneficial as decision-making aids, their reliability is hampered by limitations in reasoning,…

Large language models are increasingly used in strategic decision-making settings, yet evidence shows that, like humans, they often deviate from full rationality. In this study, we compare LLMs and humans using experimental paradigms…

Large language models (LLMs) are increasingly used for tasks that require complex reasoning. Most benchmarks focus on final outcomes but overlook the intermediate reasoning steps - such as planning, revision, and decision making under…

Machines driven by large language models (LLMs) have the potential to augment humans across various tasks, a development with profound implications for business settings where effective communication, collaboration, and stakeholder trust…

Large language models (LLMs) have been extensively used as the backbones for general-purpose agents, and some economics literature suggest that LLMs are capable of playing various types of economics games. Following these works, to overcome…

We investigated the capability of the GPT-3.5 large language model (LLM) to operationalize natural language descriptions of cooperative, competitive, altruistic, and self-interested behavior in two social dilemmas: the repeated Prisoners…

Strategic reasoning enables agents to cooperate, communicate, and compete with other agents in diverse situations. Existing approaches to solving strategic games rely on extensive training, yielding strategies that do not generalize to new…

In recent years, large language models (LLMs) have shown significant advancements in natural language processing (NLP), with strong capa-bilities in generation, comprehension, and rea-soning. These models have found applications in…

Large language models (LLMs) such as ChatGPT and GPT-4 have recently demonstrated their remarkable abilities of communicating with human users. In this technical report, we take an initiative to investigate their capacities of playing text…

Strategic decision-making involves interactive reasoning where agents adapt their choices in response to others, yet existing evaluations of large language models (LLMs) often emphasize Nash Equilibrium (NE) approximation, overlooking the…

This paper investigates the rationality of large language models (LLMs) in strategic decision-making contexts, specifically within the framework of game theory. We evaluate several state-of-the-art LLMs across a spectrum of…