Algorithmic Collusion by Large Language Models

arXiv:2404.00806 · econ.GN, cs.AI, cs.GT, q-fin.EC · Submitted 2024-03-31 · Read on arXiv

econ.GN, cs.AI, cs.GT, q-fin.EC

Submitted: 2024-03-31

Updated: 2026-08-31

Comments: Accepted to EC 2026

Project page: https://www.winston.com/en/blogs-andpodcasts/competition-corner/algorithmic-pricing-a-recipe-for-antitrustdisaster

License: http://arxiv.org/licenses/nonexclusive-distrib/1.0/

Terminology

• Q-learning — 19× in this paper · explained in 3 episodes
• Generative AI — 10× in this paper · explained in 2 episodes
• Robustness — 7× in this paper · explained in 5 episodes
• Nash Equilibrium — 6× in this paper · explained in 2 episodes
• AI Agents — 4× in this paper · explained in 2 episodes
• Embeddings — 4× in this paper · explained in 2 episodes
• Adam — 3× in this paper · explained in 2 episodes
• Chain-of-Thought Prompting — 3× in this paper · explained in 2 episodes
• Clustering — 3× in this paper · explained in 2 episodes
• Large Language Models (LLMs) — 3× in this paper · explained in 6 episodes
• ACM Conference on Economics and Computation — 2× in this paper
• Benchmark — 2× in this paper · explained in 2 episodes
• Cosine Similarity — 2× in this paper · explained in 3 episodes
• Fine-Tuning — 2× in this paper · explained in 5 episodes
• Reinforcement Learning — 2× in this paper · explained in 4 episodes
• Sycophancy — 2× in this paper · explained in 4 episodes
• Ablation — 1× in this paper · explained in 1 episode
• Abundance — 1× in this paper · explained in 1 episode
• Alignment — 1× in this paper · explained in 1 episode
• Consistency — 1× in this paper · explained in 3 episodes
• Cooperation — 1× in this paper · explained in 2 episodes
• Core — 1× in this paper · explained in 2 episodes
• Foundation Model — 1× in this paper · explained in 3 episodes
• Foundation Models — 1× in this paper · explained in 7 episodes
• Generalization — 1× in this paper · explained in 13 episodes
• In International Conference on Learning Representations — 1× in this paper
• Influence Functions — 1× in this paper · explained in 2 episodes
• Interpretability — 1× in this paper · explained in 15 episodes
• Principal Component Analysis (PCA) — 1× in this paper · explained in 4 episodes
• Regret — 1× in this paper · explained in 3 episodes
• Securities and Exchange Commission — 1× in this paper
• Semantic Similarity — 1× in this paper · explained in 2 episodes
• Transformer — 1× in this paper · explained in 2 episodes
• Verification — 1× in this paper · explained in 2 episodes

Sources

• Gemini: A Family of Highly Capable Multimodal Models
• GPT-4 Technical Report

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