mlsanityData to 7 Oct 2026

Token Economics for LLM Agents: A Dual-View Study from Computing and Economics

arXiv 2605.09104 ↗First posted 9 May 2026cs.AIcited by 5

On the map: LLM agents and tool use → Social simulation and multi-agent debate

Abstract (arXiv)

As LLM agents evolve, tokens have emerged as the core economic primitives of Agentic AI. However, their exponential consumption introduces severe computational, collaborative, and security bottlenecks. Current surveys remain fragmented across system optimization, architecture design, and trust, lacking a unified framework to evaluate the fundamental trade-off between output quality and economic cost. To bridge this gap, this survey presents the first comprehensive survey of Token Economics. By unifying computer science and economics, we conceptualize tokens as production factors, exchange mediums, and units of account. We synthesize existing literature across a four-dimensional taxonomy: (1) Micro-level (Single Agent): Optimizing budget-constrained factor substitution via neoclassical firm theory. (2) Meso-level (Multi-Agent Systems): Minimizing collaboration friction using transaction cost and principal-agent theories. (3) Macro-level (Agent Ecosystems): Addressing congestion externalities and pricing via mechanism design. (4) Security: Internalizing adversarial threats as endogenous economic constraints. Finally, we outline frontier directions, including differentiable token budgets and dynamic markets, to lay the theoretical foundation for scalable next-generation agent systems.

Key facts. Cited by 5 papers in the map (data through 7 Oct 2026). Placed in Social simulation and multi-agent debate, one of 16 directions in LLM agents and tool use. Builds on 36 of its 193 references that are in the map. First posted on arXiv 9 May 2026.

Builds on

36 of 193 references.

Closest ancestors · 1

Same direction, newest first

  1. 2026Cross-Modal Memory Compression for Efficient Multi-Agent Debate31 Jan

Other references · 35

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  6. 2025Token Reduction Should Go Beyond Efficiency in Generative Models -- From Vision, Language to Multimodalitycited by 49
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  14. 2025Dynamic Generation of Multi-LLM Agents Communication Topologies with Graph Diffusion Modelscited by 11
  15. 2026Tokenomics: Quantifying Where Tokens Are Used in Agentic Software Engineeringcited by 11
  16. 2026LRAgent: Efficient KV Cache Sharing for Multi-LoRA LLM Agentscited by 10
  17. 2026Spend Less, Reason Better: Budget-Aware Value Tree Search for LLM Agentscited by 10
  18. 2025CodeAgents: A Token-Efficient Framework for Codified Multi-Agent Reasoning in LLMscited by 9
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  20. 2026Latent Reasoning with Supervised Thinking Statescited by 8
  21. 2026TokenDance: Scaling Multi-Agent LLM Serving via Collective KV Cache Sharingcited by 8
  22. 2025A Comprehensive Empirical Evaluation of Agent Frameworks on Code-centric Software Engineering Taskscited by 7
  23. 2026Multi-Agent Memory from a Computer Architecture Perspective: Visions and Challenges Aheadcited by 7

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Cited by year (2026 to 7 Oct)

Citing papers per year: 2026: 5.

5 papers.

Similar, not cited

Close in wording, no citation either way

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  3. 2026CoffeeBench: Benchmarking Long-Horizon LLM Agents in Heterogeneous Multi-Agent Economies
  4. 2026Competitive Market Behavior of LLMs
  5. 2026Beyond Token Savings: A Systematic Study of Context Compression in LLM Agents
  6. 2026Artificial Institutions: How Institutional Design Shapes LLM Simulations
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  8. 2026Contracting for LLM Delegation: Moral Hazard in Technology and Effort Choice ↗