PrefBench benchmark shows zero-shot LLMs achieve deal rates above 0.99 but seller profits only slightly above random and far below a simple concession heuristic across 7,500 episodes.
Personalized pricing and consumer welfare.Journal of Political Economy, 131(1):131–189, 2023
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PrefBench: Evaluating Zero-Shot LLM Agents in Hidden-Preference Personalized Pricing Negotiations
PrefBench benchmark shows zero-shot LLMs achieve deal rates above 0.99 but seller profits only slightly above random and far below a simple concession heuristic across 7,500 episodes.