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Large language model (LLM)-based agents are increasingly expected to negotiate, coordinate, and transact autonomously, yet existing benchmarks lack principled settings for evaluating language-mediated economic interaction among multiple…
Modern information access ecosystems consist of mixtures of systems, such as retrieval systems and large language models, and increasingly rely on marketplaces to mediate access to models, tools, and data, making competition between systems…
Data marketplaces, which mediate the purchase and exchange of data from third parties, have attracted growing attention for reducing the cost and effort of data collection while enabling the trading of diverse datasets. However, a…
Generative AI has transformed human-computer interaction by enabling natural language interfaces and the emergence of autonomous agents capable of acting on users' behalf. While early applications have improved individual productivity,…
As artificial intelligence (AI) agents are deployed across economic domains, understanding their strategic behavior and market-level impact becomes critical. This paper puts forward a groundbreaking new framework that is the first to…
Large language models (LLMs) are increasingly deployed in agentic frameworks, in which prompts trigger complex tool-based analysis in pursuit of a goal. While these frameworks have shown promise across multiple domains including in finance,…
The emergence of agentic AI, powered by Large Language Models (LLMs), marks a paradigm shift from reactive generative systems to proactive, goal-oriented autonomous agents capable of sophisticated planning, memory, and tool use. This…
Simulating consumer decision-making is vital for designing and evaluating marketing strategies before costly real-world deployment. However, post-event analyses and rule-based agent-based models (ABMs) struggle to capture the complexity of…
AI agents are increasingly used in consumer-facing applications to assist with tasks such as product search, negotiation, and transaction execution. In this paper, we explore a future scenario where both consumers and merchants authorize AI…
Reasoning is a fundamental cognitive process underlying inference, problem-solving, and decision-making. While large language models (LLMs) demonstrate strong reasoning capabilities in closed-world settings, they struggle in open-ended and…
Motivated by agentic markets -- two-sided markets in which consumers and businesses are assisted by AI tools that facilitate consumers' search -- we study the impact of improved search technology on learning and welfare in markets. We put…
Agent-based modeling (ABM) has long been used in economics to study human behavior, and large language model (LLM) agents now enable new forms of social and economic simulation. While prior work has discovered strategic deception by LLM…
The proliferation of e-commerce has made web shopping platforms key gateways for customers navigating the vast digital marketplace. Yet this rapid expansion has led to a noisy and fragmented information environment, increasing cognitive…
This study explores the potential of large language models (LLMs) to conduct market experiments, aiming to understand their capability to comprehend competitive market dynamics. We model the behavior of market agents in a controlled…
As large language models (LLMs) transition from static tools to fully agentic systems, their potential for transforming social science research has become increasingly evident. This paper introduces a structured framework for understanding…
Agent-based models provide a constructive approach to studying emergent dynamics in life-like systems composed of interacting, adaptive agents. Financial markets serve as a canonical example of such systems, where collective price dynamics…
Investors and regulators can greatly benefit from a realistic market simulator that enables them to anticipate the consequences of their decisions in real markets. However, traditional rule-based market simulators often fall short in…
Some of the most relevant future applications of multi-agent systems like autonomous driving or factories as a service display mixed-motive scenarios, where agents might have conflicting goals. In these settings agents are likely to learn…
Small LLMs often struggle to match the agentic capabilities of large, costly models. While reinforcement learning can help, progress has been limited by two structural bottlenecks: existing open-source agentic training data are narrow in…
Large Language Model (LLM) agents represent a promising shift in human-AI interaction, moving beyond passive prompt-response systems to autonomous agents capable of reasoning, planning, and goal-directed action. While LLM agents are…