{"id":"https://openalex.org/W7155069951","doi":"https://doi.org/10.48550/arxiv.2604.16472","title":"Training Language Models for Bilateral Trade with Private Information","display_name":"Training Language Models for Bilateral Trade with Private Information","publication_year":2026,"publication_date":"2026-04-10","ids":{"openalex":"https://openalex.org/W7155069951","doi":"https://doi.org/10.48550/arxiv.2604.16472"},"language":null,"primary_location":{"id":"doi:10.48550/arxiv.2604.16472","is_oa":true,"landing_page_url":"https://doi.org/10.48550/arxiv.2604.16472","pdf_url":null,"source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":null,"issn":null,"is_oa":true,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},"type":"preprint","indexed_in":["datacite"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.48550/arxiv.2604.16472","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5003919163","display_name":"Dirk Bergemann","orcid":"https://orcid.org/0000-0002-2759-6962"},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Bergemann, Dirk","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"middle","author":{"id":"https://openalex.org/A5059952826","display_name":"Soheil Ghili","orcid":"https://orcid.org/0000-0002-8358-9249"},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Ghili, Soheil","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"middle","author":{"id":"https://openalex.org/A5134186696","display_name":"Xinyang Hu","orcid":null},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Hu, Xinyang","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"middle","author":{"id":"https://openalex.org/A5134179463","display_name":"Chuanhao Li","orcid":null},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Li, Chuanhao","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5101727948","display_name":"Zhuoran Yang","orcid":"https://orcid.org/0000-0001-5269-9958"},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Yang, Zhuoran","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":5,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":0,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11182","display_name":"Auction Theory and Applications","score":0.12120000272989273,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11182","display_name":"Auction Theory and Applications","score":0.12120000272989273,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10646","display_name":"Experimental Behavioral Economics Studies","score":0.11169999837875366,"subfield":{"id":"https://openalex.org/subfields/3311","display_name":"Safety Research"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10456","display_name":"Multi-Agent Systems and Negotiation","score":0.06430000066757202,"subfield":{"id":"https://openalex.org/subfields/1702","display_name":"Artificial Intelligence"},"field":{"id":"https://openalex.org/fields/17","display_name":"Computer Science"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/economic-surplus","display_name":"Economic surplus","score":0.5874999761581421},{"id":"https://openalex.org/keywords/benchmark","display_name":"Benchmark (surveying)","score":0.5241000056266785},{"id":"https://openalex.org/keywords/negotiation","display_name":"Negotiation","score":0.4643000066280365},{"id":"https://openalex.org/keywords/incentive","display_name":"Incentive","score":0.39100000262260437},{"id":"https://openalex.org/keywords/private-information-retrieval","display_name":"Private information retrieval","score":0.38510000705718994},{"id":"https://openalex.org/keywords/bilateral-trade","display_name":"Bilateral trade","score":0.38089999556541443},{"id":"https://openalex.org/keywords/tariff","display_name":"Tariff","score":0.32580000162124634},{"id":"https://openalex.org/keywords/bargaining-problem","display_name":"Bargaining problem","score":0.31349998712539673},{"id":"https://openalex.org/keywords/offset","display_name":"Offset (computer science)","score":0.3095000088214874}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.6460000276565552},{"id":"https://openalex.org/C167393938","wikidata":"https://www.wikidata.org/wiki/Q268617","display_name":"Economic surplus","level":3,"score":0.5874999761581421},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.5619000196456909},{"id":"https://openalex.org/C185798385","wikidata":"https://www.wikidata.org/wiki/Q1161707","display_name":"Benchmark (surveying)","level":2,"score":0.5241000056266785},{"id":"https://openalex.org/C199776023","wikidata":"https://www.wikidata.org/wiki/Q202875","display_name":"Negotiation","level":2,"score":0.4643000066280365},{"id":"https://openalex.org/C29122968","wikidata":"https://www.wikidata.org/wiki/Q1414816","display_name":"Incentive","level":2,"score":0.39100000262260437},{"id":"https://openalex.org/C99221444","wikidata":"https://www.wikidata.org/wiki/Q1532069","display_name":"Private information retrieval","level":2,"score":0.38510000705718994},{"id":"https://openalex.org/C2780967403","wikidata":"https://www.wikidata.org/wiki/Q256330","display_name":"Bilateral trade","level":3,"score":0.38089999556541443},{"id":"https://openalex.org/C2776060655","wikidata":"https://www.wikidata.org/wiki/Q52389","display_name":"Tariff","level":2,"score":0.32580000162124634},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.3190000057220459},{"id":"https://openalex.org/C90376892","wikidata":"https://www.wikidata.org/wiki/Q1516247","display_name":"Bargaining problem","level":2,"score":0.31349998712539673},{"id":"https://openalex.org/C175291020","wikidata":"https://www.wikidata.org/wiki/Q1156822","display_name":"Offset (computer science)","level":2,"score":0.3095000088214874},{"id":"https://openalex.org/C46814582","wikidata":"https://www.wikidata.org/wiki/Q23389","display_name":"Nash equilibrium","level":2,"score":0.3034999966621399},{"id":"https://openalex.org/C113336015","wikidata":"https://www.wikidata.org/wiki/Q574010","display_name":"Complete information","level":2,"score":0.2964000105857849},{"id":"https://openalex.org/C63479239","wikidata":"https://www.wikidata.org/wiki/Q7353546","display_name":"Robustness (evolution)","level":3,"score":0.29350000619888306},{"id":"https://openalex.org/C171268870","wikidata":"https://www.wikidata.org/wiki/Q1486676","display_name":"GRASP","level":2,"score":0.29269999265670776},{"id":"https://openalex.org/C2781249084","wikidata":"https://www.wikidata.org/wiki/Q908656","display_name":"Preference","level":2,"score":0.2888000011444092},{"id":"https://openalex.org/C9354725","wikidata":"https://www.wikidata.org/wiki/Q286017","display_name":"Operationalization","level":2,"score":0.28119999170303345},{"id":"https://openalex.org/C51485801","wikidata":"https://www.wikidata.org/wiki/Q16966861","display_name":"Efficient frontier","level":3,"score":0.2799000144004822},{"id":"https://openalex.org/C2778755073","wikidata":"https://www.wikidata.org/wiki/Q10858537","display_name":"Scale (ratio)","level":2,"score":0.27950000762939453},{"id":"https://openalex.org/C2778571376","wikidata":"https://www.wikidata.org/wiki/Q1355821","display_name":"Frontier","level":2,"score":0.27309998869895935},{"id":"https://openalex.org/C27254500","wikidata":"https://www.wikidata.org/wiki/Q789788","display_name":"Gains from trade","level":3,"score":0.2718000113964081},{"id":"https://openalex.org/C139807058","wikidata":"https://www.wikidata.org/wiki/Q352374","display_name":"Adaptation (eye)","level":2,"score":0.2689000070095062},{"id":"https://openalex.org/C64543145","wikidata":"https://www.wikidata.org/wiki/Q162942","display_name":"Intersection (aeronautics)","level":2,"score":0.26600000262260437},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.26409998536109924},{"id":"https://openalex.org/C2779530757","wikidata":"https://www.wikidata.org/wiki/Q1207505","display_name":"Quality (philosophy)","level":2,"score":0.263700008392334},{"id":"https://openalex.org/C2780608745","wikidata":"https://www.wikidata.org/wiki/Q367293","display_name":"Convention","level":2,"score":0.25600001215934753},{"id":"https://openalex.org/C2780964549","wikidata":"https://www.wikidata.org/wiki/Q5156353","display_name":"Competitive equilibrium","level":2,"score":0.25290000438690186},{"id":"https://openalex.org/C204983608","wikidata":"https://www.wikidata.org/wiki/Q2111958","display_name":"Productivity","level":2,"score":0.2515000104904175}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.48550/arxiv.2604.16472","is_oa":true,"landing_page_url":"https://doi.org/10.48550/arxiv.2604.16472","pdf_url":null,"source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":null,"issn":null,"is_oa":true,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":null,"is_accepted":false,"is_published":null,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":{"id":"doi:10.48550/arxiv.2604.16472","is_oa":true,"landing_page_url":"https://doi.org/10.48550/arxiv.2604.16472","pdf_url":null,"source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":null,"issn":null,"is_oa":true,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},"sustainable_development_goals":[{"display_name":"Peace, Justice and strong institutions","score":0.5304539799690247,"id":"https://metadata.un.org/sdg/16"},{"display_name":"Reduced inequalities","score":0.4162060618400574,"id":"https://metadata.un.org/sdg/10"}],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":[],"abstract_inverted_index":{"Bilateral":[0,17],"bargaining":[1,36],"under":[2],"incomplete":[3],"information":[4],"provides":[5],"a":[6,34,64,71,83,186],"controlled":[7],"testbed":[8],"for":[9,66,74],"evaluating":[10],"large":[11],"language":[12],"model":[13],"(LLM)":[14],"agent":[15],"capabilities.":[16],"trade":[18],"demands":[19],"individual":[20],"rationality,":[21],"strategic":[22],"surplus":[23,113,133,198,211,220],"maximization,":[24],"and":[25,69,106,115,135],"cooperation":[26],"to":[27,54,144,227],"realize":[28],"gains":[29],"from":[30,51],"trade.":[31],"We":[32],"develop":[33],"structured":[35],"environment":[37,59,73],"where":[38],"LLMs":[39],"negotiate":[40],"via":[41,77,174],"tool":[42],"calls":[43],"within":[44],"an":[45],"event-driven":[46],"simulator,":[47],"separating":[48],"binding":[49],"offers":[50],"natural-language":[52],"messages":[53],"enable":[55],"automated":[56],"evaluation.":[57],"The":[58],"serves":[60],"two":[61],"purposes:":[62],"as":[63,70],"benchmark":[65,81],"frontier":[67,88,188],"models":[68,76,89,139,153],"training":[72,167],"open-weight":[75],"reinforcement":[78],"learning.":[79],"In":[80,166],"experiments,":[82,168],"round-robin":[84],"tournament":[85],"among":[86],"five":[87],"(15,000":[90],"negotiations)":[91],"reveals":[92],"that":[93,120,231],"effective":[94],"strategies":[95,119,236],"implement":[96],"price":[97,124,150,223,240],"discrimination":[98,125],"through":[99],"sequential":[100],"offers.":[101],"Aggressive":[102],"anchoring,":[103],"calibrated":[104],"concession,":[105],"temporal":[107],"patience":[108],"correlate":[109],"with":[110],"the":[111,127,131,214],"highest":[112],"share":[114,199],"deal":[116,136,202,207],"rate.":[117],"Accommodating":[118],"concede":[121],"quickly":[122],"disable":[123],"in":[126],"buyer":[128],"role,":[129],"yielding":[130],"lowest":[132],"capture":[134],"completion.":[137],"Stronger":[138],"scale":[140],"their":[141],"behavior":[142],"proportionally":[143],"item":[145],"value,":[146],"maintaining":[147],"performance":[148],"across":[149,222],"tiers;":[151],"weaker":[152],"perform":[154],"well":[155],"only":[156],"when":[157],"wide":[158],"zones":[159],"of":[160],"possible":[161],"agreement":[162],"offset":[163],"suboptimal":[164],"strategies.":[165],"we":[169],"fine-tune":[170],"Qwen3":[171],"(8B,":[172],"14B)":[173],"supervised":[175],"fine-tuning":[176],"(SFT)":[177],"followed":[178],"by":[179],"Group":[180],"Relative":[181],"Policy":[182],"Optimization":[183],"(GRPO)":[184],"against":[185],"fixed":[187],"opponent.":[189],"These":[190],"stages":[191],"optimize":[192],"competing":[193],"objectives:":[194],"SFT":[195,217],"approximately":[196],"doubles":[197],"but":[200,209],"reduces":[201],"rates,":[203],"while":[204],"RL":[205],"recovers":[206],"rates":[208],"erodes":[210],"gains,":[212],"reflecting":[213],"reward":[215],"structure.":[216],"also":[218],"compresses":[219],"variation":[221],"tiers,":[224],"which":[225],"generalizes":[226],"unseen":[228],"opponents,":[229],"suggesting":[230],"behavioral":[232],"cloning":[233],"instills":[234],"proportional":[235],"rather":[237],"than":[238],"memorized":[239],"points.":[241]},"counts_by_year":[],"updated_date":"2026-06-11T09:08:48.828518","created_date":"2026-04-22T00:00:00"}