Algorithmic Collusion by Large Language Models

BKC Spring Speaker Series

Sara Fish’s research focuses on topics at the intersection of economics and artificial intelligence. Join her at BKC as she shares emerging research on Large Language Models (LLMs), and their promises, limitations, and risks when used for core economic tasks such as pricing and bidding. Her recent work, joint with Yannai Gonczarowski and Ran Shorrer, shows that LLM agents engage in autonomous algorithmic collusion in pricing and bidding settings. These findings uncover unique challenges to any future regulation of LLM-based pricing agents, and black-box pricing agents more broadly.