Related papers: Beyond Nash Equilibrium: Bounded Rationality of LL…

We introduce the LLM-Nash framework, a game-theoretic model where agents select reasoning prompts to guide decision-making via Large Language Models (LLMs). Unlike classical games that assume utility-maximizing agents with full rationality,…

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…

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…

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…

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…

Researchers have started using LLM agents in place of human subjects in behavioural and political-science experiments, often as a cheaper substitute for laboratory pools. The substitution does not hold up in strategic settings: humans and…

Large language models (LLMs) are increasingly proposed as agents in strategic decision environments, yet their behavior in structured geopolitical simulations remains under-researched. We evaluate six popular state-of-the-art LLMs alongside…

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…

When creating policies, plans, or designs for people, it is challenging for designers to foresee all of the ways in which people may reason and behave. Recently, Large Language Models (LLMs) have been shown to be able to simulate human…

As Large Language Models (LLMs) integrate into our social and economic interactions, we need to deepen our understanding of how humans respond to LLMs opponents in strategic settings. We present the results of the first controlled…

Humans rapidly learn abstract knowledge when encountering novel environments and flexibly deploy this knowledge to guide efficient and intelligent action. Can modern AI systems learn and plan in a similar way? We study this question using a…

In the present study, we investigate and compare reasoning in large language models (LLM) and humans using a selection of cognitive psychology tools traditionally dedicated to the study of (bounded) rationality. To do so, we presented to…

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…

As Large Language Models (LLMs) are increasingly deployed in social and strategic scenarios, it becomes critical to understand where and why their behavior diverges from that of humans. While behavioral game theory (BGT) provides a…

Large Language Models (LLMs) are increasingly applied to domains that require reasoning about other agents' behavior, such as negotiation, policy design, and market simulation, yet existing research has mostly evaluated their adherence to…

Large language models (LLMs) are increasingly used both to make decisions in domains such as health, education and law, and to simulate human behavior. Yet how closely LLMs mirror actual human decision-making remains poorly understood. This…

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…

To some, the advent of artificial intelligence (AI) promises better decision-making and increased military effectiveness while reducing the influence of human error and emotions. However, there is still debate about how AI systems,…

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,…

LLM agents are known to deviate from Nash equilibria in strategic interactions, but nobody has looked inside the model to understand why, or asked whether the deviation can be reversed. We do both. Working with four open-source models…