No AI summary available for this article.
Why It Matters
Large language models (LLMs) are increasingly deployed as economic agents, yet there is little evidence whether LLM agents are suited for participating in market mechanisms designed for humans, and whether these mechanisms deliver desired outcomes when faced with LLM agents.
Provenance
Discovered via ArXiv and published by ArXiv.
Key Claims
Original description
Large language models (LLMs) are increasingly deployed as economic agents, yet there is little evidence whether LLM agents are suited for participating in market mechanisms designed for humans, and whether these mechanisms deliver desired outcomes when faced with LLM agents. We address this question by replicating seminal economic experiments, replacing human subjects with LLM agents. We place agents in a double auction environment, which is a widely-used market mechanism. We check whether such a market is able to deliver an efficient allocation of resources, thereby testing a novel dimension...
Discovered via ArXiv
Research papers and preprints from arXiv.
Publisher: arxiv.org
ID: http://arxiv.org/abs/2609.02580v1 · Indexed about 1 hour ago