How Personality Traits Influence Negotiation Outcomes? A Simulation based on Large Language Models
This work addresses the problem of modeling human-like negotiation behaviors for researchers in psychology and AI, but it is incremental as it applies existing LLM methods to a new simulation context.
The paper tackles the problem of understanding how personality traits affect negotiation outcomes by developing a simulation framework using Large Language Model agents with synthesized personalities, and finds that these simulations can reproduce behavioral patterns observed in human negotiations.
Psychological evidence reveals the influence of personality traits on decision-making. For instance, agreeableness is generally associated with positive outcomes in negotiations, whereas neuroticism is often linked to less favorable outcomes. This paper introduces a simulation framework centered on Large Language Model (LLM) agents endowed with synthesized personality traits. The agents negotiate within bargaining domains and possess customizable personalities and objectives. The experimental results show that the behavioral tendencies of LLM-based simulations could reproduce behavioral patterns observed in human negotiations. The contribution is twofold. First, we propose a simulation methodology that investigates the alignment between the linguistic and economic capabilities of LLM agents. Secondly, we offer empirical insights into the strategic impact of Big-Five personality traits on the outcomes of bilateral negotiations. We also provide a case study based on synthesized bargaining dialogues to reveal intriguing behaviors, including deceitful and compromising behaviors.