mlsanityData to 14 Oct 2026

Algorithmic Collusion by Large Language Models

arXiv 2404.00806 ↗First posted 31 Mar 2024econ.GN cs.AI cs.GTcited by 62

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Cited by 28 in LLM agents and tool use, but placed by its own abstract, which didn’t fit.

Abstract (arXiv)

We conduct experiments with algorithmic pricing agents based on Large Language Models (LLMs). In oligopoly settings, LLM-based pricing agents quickly and autonomously reach supracompetitive prices and profits. Variation in seemingly innocuous phrases in LLM instructions ("prompts") substantially influence the degree of supracompetitive pricing. We develop novel techniques for behavioral analysis of LLMs and use them to uncover price-war concerns as a contributing factor. Our results extend to auction settings. Our findings uncover unique challenges to any future regulation of LLM-based pricing agents, and AI-based pricing agents more broadly.

Key facts. Cited by 62 papers in the map (data through 14 Oct 2026). Builds on 11 of its 46 references that are in the map. First posted on arXiv 31 Mar 2024.

Builds on

11 of 46 references.

References · 11

  1. 2020Language Models are Few-Shot Learnerscited by 32,419
  2. 2022Chain-of-Thought Prompting Elicits Reasoning in Large Language Modelscited by 12,459
  3. 2020Measuring Massive Multitask Language Understandingcited by 7,963
  4. 2023Generative Agents: Interactive Simulacra of Human Behaviorcited by 3,568
  5. 2023Lost in the Middle: How Language Models Use Long Contextscited by 3,455
  6. 2022Constitutional AI: Harmlessness from AI Feedbackcited by 3,050
  7. 2023Voyager: An Open-Ended Embodied Agent with Large Language Modelscited by 2,191
  8. 2022Toward Transparent AI: A Survey on Interpreting the Inner Structures of Deep Neural Networkscited by 129
  9. 2021Auctions Between Regret-Minimizing Agentscited by 22
  10. 2022Artificial Intelligence and Auction Designcited by 20
  11. 2024Regulation of Algorithmic Collusioncited by 10

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Cited by year (2026 to 14 Oct)

Citing papers per year: 2024: 3; 2025: 20; 2026: 39.

62 papers.

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  1. 2025Infrastructure for AI Agentscited by 41
  2. 2024Strategic Collusion of LLM Agents: Market Division in Multi-Commodity Competitionscited by 26
  3. 2025The Coming Crisis of Multi-Agent Misalignment: AI Alignment Must Be a Dynamic and Social Processcited by 21
  4. 2025Magentic Marketplace: An Open-Source Environment for Studying Agentic Marketscited by 19
  5. 2026Colosseum: Auditing Collusion in Cooperative Multi-Agent Systemscited by 18
  6. 2025Game Theory Meets Large Language Models: A Systematic Survey with Taxonomy and New Frontierscited by 16
  7. 2025Inherent and emergent liability issues in LLM-based agentic systems: a principal-agent perspectivecited by 13
  8. 2025Is Your LLM Overcharging You? Tokenization, Transparency, and Incentivescited by 13
  9. 2025When Autonomy Goes Rogue: Preparing for Risks of Multi-Agent Collusion in Social Systemscited by 11
  10. 2025Strategic Tradeoffs Between Humans and AI in Multi-Agent Bargainingcited by 11
  11. 2025EconEvals: Benchmarks and Litmus Tests for Economic Decision-Making by LLM Agentscited by 10
  12. 2025Can Generative AI agents behave like humans? Evidence from laboratory market experimentscited by 10
38 more
  1. 2025LLM Bidders Preserve the Mechanism-Level Orderings of Human Bidderscited by 10
  2. 2025Beyond Single-Agent Safety: A Taxonomy of Risks in LLM-to-LLM Interactionscited by 10
  3. 2025Distributive Fairness in Large Language Models: Evaluating Alignment with Human Valuescited by 9
  4. 2026On the Fragility of AI Agent Collusioncited by 7
  5. 2026Detecting Multi-Agent Collusion Through Multi-Agent Interpretabilitycited by 7
  6. 2026Strategic Algorithmic Monoculture: Experimental Evidence from Coordination Gamescited by 7
  7. 2026Persona Vectors in Games: Measuring and Steering Strategies via Activation Vectorscited by 6
  8. 2025Aligning Large Language Model Agents with Rational and Moral Preferences: A Supervised Fine-Tuning Approachcited by 5
  9. 2026Self-Improvement of Large Language Models: A Technical Overview and Future Outlookcited by 5
  10. 2025Human Misperception of Generative-AI Alignment: A Laboratory Experimentcited by 4
  11. 2026Prompt Optimization Enables Stable Algorithmic Collusion in LLM Agentscited by 4
  12. 2024Games with Payments between Learning Agentscited by 3
  13. 2026Competition and Cooperation of LLM Agents in Gamescited by 3
  14. 2026When AI Fails, What Works? A Data-Driven Taxonomy of Real-World AI Risk Mitigation Strategiescited by 2
  15. 2026Strategic Exploitation in LLM Agent Markets: A Simulation Framework for E-Commerce Trustcited by 2
  16. 2026Emergent Misaligned Communication in Long-Horizon Multi-Agent LLM Commercecited by 2
  17. 2026Emergent Collusion in Long-Horizon LLM Agent Interactioncited by 2
  18. 2025Impact of Price Inflation on Algorithmic Collusion Through Reinforcement Learning Agentscited by 1
  19. 2025The Collaboration Paradox: Why Generative AI Requires Both Strategic Intelligence and Operational Stability in Supply Chain Managementcited by 1
  20. 2025A Criminology of Machinescited by 1
  21. 2025Breaking Algorithmic Collusion in Human-AI Ecosystemscited by 1
  22. 2026Reasonably reasoning AI agents can avoid game-theoretic failures in zero-shot, provablycited by 1
  23. 2026Misspecified Estimate-then-Optimize Leads to Supra-Competitive Pricescited by 1
  24. 2026Solipsistic Superintelligence is Unlikely to be Cooperativecited by 1
  25. 2026Oblivious Learning and Collusive Pricingcited by 1
  26. 2026Norm Enforcement for AI Agents: Robustly Shaping Behavior in Multi-Agent Systemscited by 1
  27. 2026When Shippers Become Algorithms: Candidate Exposure, Information Design, and the Concentration of LLM-Mediated Freight Marketscited by 1
  28. 2026Draining the Energy Commons: Self-Defeating Over-Appropriation as a Coordination Failure in Agentic LLM Collectivescited by 1
  29. 2026A game theory for foundation models shows new paths to rational cooperation through similarity inferencecited by 1
  30. 2026Position: Collusion Risks Among AI Reasoning Agents Justify Certification Requirements for Making Market Decisionscited by 1
  31. 2026Mitigating Retaliatory Algorithmic Collusion in Repeated Gamescited by 1
  32. 2026Algorithmic Collusion and the Complexity of Information-Value-Free Equilibriacited by 1
  33. 2026Indirect tipping: a social attack surface in AI agent populationscited by 1
  34. 2024Promoting User Data Autonomy During the Dissolution of a Monopolistic Firmcited by 0
  35. 2025Tacit Bidder-Side Collusion: Artificial Intelligence in Dynamic Auctionscited by 0
  36. 2026TourMart: A Parametric Audit Instrument for Commission Steering in LLM Travel Agentscited by 0
  37. 2026Predicting Decisions of AI Agents from Limited Interaction through Text-Tabular Modelingcited by 0
  38. 2026The Deterministic Horizon: Impossibility Results as Design Specifications for Trustworthy AI Systemscited by 0

50 most cited of 62 All 62 (JSON)