Are LLMs Effective Negotiators? Systematic Evaluation of the Multifaceted Capabilities of LLMs in Negotiation Dialogues

arXiv:2402.13550v1 Announce Type: new
Abstract: A successful negotiation demands a deep comprehension of the conversation context, Theory-of-Mind (ToM) skills to infer the partner's motives, as well as strategic reasoning and effective communication, making it challenging for automated systems. Given the remarkable performance of LLMs across a variety of NLP tasks, in this work, we aim to understand how LLMs can advance different aspects of negotiation research, ranging from designing dialogue systems to providing pedagogical feedback and scaling up data collection …

abstract arxiv automated capabilities communication context conversation cs.ai cs.cl evaluation llms making mind negotiation partner performance reasoning skills systems the conversation theory tom type