Exploring the Sensitivity of LLMs' Decision-Making Capabilities: Insights from Prompt Variation and Hyperparameters
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Abstract (arXiv)
The advancement of Large Language Models (LLMs) has led to their widespread use across a broad spectrum of tasks including decision making. Prior studies have compared the decision making abilities of LLMs with those of humans from a psychological perspective. However, these studies have not always properly accounted for the sensitivity of LLMs' behavior to hyperparameters and variations in the prompt. In this study, we examine LLMs' performance on the Horizon decision making task studied by Binz and Schulz (2023) analyzing how LLMs respond to variations in prompts and hyperparameters. By experimenting on three OpenAI language models possessing different capabilities, we observe that the decision making abilities fluctuate based on the input prompts and temperature settings. Contrary to previous findings language models display a human-like exploration exploitation tradeoff after simple adjustments to the prompt.
Key facts. Cited by 32 papers in the map (data through 14 Oct 2026). Builds on 12 of its 22 references that are in the map. First posted on arXiv 29 Dec 2023.
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References · 12
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Citing papers per year: 2024: 14; 2025: 13; 2026: 5.
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- 2026This Treatment Works, Right? Evaluating LLM Sensitivity to Patient Question Framing in Medical QA6 Apr 2026
- 2026HumanStudy-Bench: Towards AI Agent Design for Participant Simulation31 Jan 2026
- 2026One Persona, Many Cues, Different Results: How Sociodemographic Cues Impact LLM Personalization26 Jan 2026
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- 2025Rethinking Reasoning in LLMs: Neuro-Symbolic Local RetoMaton Beyond ICL and CoT22 Aug 2025
- 2025Understanding Human Limits in Pattern Recognition: A Computational Model of Sequential Reasoning in Rock, Paper, Scissors25 Jul 2025
- 2025Evaluating Large Language Models (LLMs) in Financial NLP: A Comparative Study on Financial Report Analysis24 Jul 2025
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- 2025An overview of model uncertainty and variability in LLM-based sentiment analysis. Challenges, mitigation strategies and the role of explainability6 Apr 2025
- 2025Inherent and emergent liability issues in LLM-based agentic systems: a principal-agent perspective4 Apr 2025
- 2025Generalization Bias in Large Language Model Summarization of Scientific Research28 Mar 2025
- 2025Critical Foreign Policy Decisions (CFPD)-Benchmark: Measuring Diplomatic Preferences in Large Language Models8 Mar 2025
- 2025Eye Tracking Based Cognitive Evaluation of Automatic Readability Assessment Methods16 Feb 2025
- 2025Benchmarking Prompt Sensitivity in Large Language Models9 Feb 2025
- 2024BetterBench: Assessing AI Benchmarks, Uncovering Issues, and Establishing Best Practices20 Nov 2024
- 2024Reinforcement Learning for Aligning Large Language Models Agents with Interactive Environments: Quantifying and Mitigating Prompt Overfitting25 Oct 2024
- 2024Privacy Bias in Language Models: A Contextual Integrity-based Auditing Metric5 Sep 2024
- 2024Irrelevant Alternatives Bias Large Language Model Hiring Decisions4 Sep 2024
- 2024From Text to Emotion: Unveiling the Emotion Annotation Capabilities of LLMs30 Aug 2024
- 2024Evaluating and Enhancing Trustworthiness of LLMs in Perception Tasks18 Jul 2024
- 2024The Better Angels of Machine Personality: How Personality Relates to LLM Safety17 Jul 2024
- 2024LLMs Beyond English: Scaling the Multilingual Capability of LLMs with Cross-Lingual Feedback3 Jun 2024
- 2024The Effectiveness of LLMs as Annotators: A Comparative Overview and Empirical Analysis of Direct Representation2 May 2024
- 2024PATCH! {P}sychometrics-{A}ssis{T}ed Ben{CH}marking of Large Language Models against Human Populations: A Case Study of Proficiency in 8th Grade Mathematics2 Apr 2024
- 2024Explaining Large Language Models Decisions Using Shapley Values29 Mar 2024
- 2024GenCeption: Evaluate Vision LLMs with Unlabeled Unimodal Data22 Feb 2024
- 2024Enhancing Multi-Criteria Decision Analysis with AI: Integrating Analytic Hierarchy Process and GPT-4 for Automated Decision Support12 Feb 2024
- 2024GLaPE: Gold Label-agnostic Prompt Evaluation and Optimization for Large Language Model4 Feb 2024
- 2025Inherent and emergent liability issues in LLM-based agentic systems: a principal-agent perspectivecited by 13
- 2024Reinforcement Learning for Aligning Large Language Models Agents with Interactive Environments: Quantifying and Mitigating Prompt Overfittingcited by 4
- 2025LLM Agents Are the Antidote to Walled Gardenscited by 3
- 2026HumanStudy-Bench: Towards AI Agent Design for Participant Simulationcited by 2
- 2026HumanStudy-Bench: Towards AI Agent Design for Participant Simulation31 Jan 2026
- 2025LLM Agents Are the Antidote to Walled Gardens30 Jun 2025
- 2025Inherent and emergent liability issues in LLM-based agentic systems: a principal-agent perspective4 Apr 2025
- 2024Reinforcement Learning for Aligning Large Language Models Agents with Interactive Environments: Quantifying and Mitigating Prompt Overfitting25 Oct 2024
- 2024BetterBench: Assessing AI Benchmarks, Uncovering Issues, and Establishing Best Practicescited by 114
- 2025Benchmarking Prompt Sensitivity in Large Language Modelscited by 38
- 2025Generalization Bias in Large Language Model Summarization of Scientific Researchcited by 30
- 2024The Effectiveness of LLMs as Annotators: A Comparative Overview and Empirical Analysis of Direct Representationcited by 29
- 2024The Better Angels of Machine Personality: How Personality Relates to LLM Safetycited by 21
- 2025Literature-Grounded Novelty Assessment of Scientific Ideascited by 19
- 2025An overview of model uncertainty and variability in LLM-based sentiment analysis. Challenges, mitigation strategies and the role of explainabilitycited by 15
- 2024From Text to Emotion: Unveiling the Emotion Annotation Capabilities of LLMscited by 13
- 2024Explaining Large Language Models Decisions Using Shapley Valuescited by 12
- 2026One Persona, Many Cues, Different Results: How Sociodemographic Cues Impact LLM Personalizationcited by 9
- 2025Critical Foreign Policy Decisions (CFPD)-Benchmark: Measuring Diplomatic Preferences in Large Language Modelscited by 7
- 2024Privacy Bias in Language Models: A Contextual Integrity-based Auditing Metriccited by 6
12 most cited of 23 All 23 (JSON)
- 2026Assessing mentalization in humans and large language models26 Aug 2026
- 2026Isotropy Cliffs: The Geometric Signature of Decision-Making in Large Language Models1 Aug 2026
- 2026This Treatment Works, Right? Evaluating LLM Sensitivity to Patient Question Framing in Medical QA6 Apr 2026
- 2026One Persona, Many Cues, Different Results: How Sociodemographic Cues Impact LLM Personalization26 Jan 2026
- 2025Acquiescence Bias in Large Language Models10 Sep 2025
- 2025Evaluating Large Language Models (LLMs) in Financial NLP: A Comparative Study on Financial Report Analysis24 Jul 2025
- 2025Literature-Grounded Novelty Assessment of Scientific Ideas27 Jun 2025
- 2025An overview of model uncertainty and variability in LLM-based sentiment analysis. Challenges, mitigation strategies and the role of explainability6 Apr 2025
- 2025Generalization Bias in Large Language Model Summarization of Scientific Research28 Mar 2025
- 2025Critical Foreign Policy Decisions (CFPD)-Benchmark: Measuring Diplomatic Preferences in Large Language Models8 Mar 2025
- 2025Eye Tracking Based Cognitive Evaluation of Automatic Readability Assessment Methods16 Feb 2025
- 2025Benchmarking Prompt Sensitivity in Large Language Models9 Feb 2025
12 newest of 23 All 23 (JSON)