Are LLMs Effective Negotiators? Systematic Evaluation of the Multifaceted Capabilities of LLMs in Negotiation Dialogues (opens in new tab)

arXiv:2402.13550v3 Announce Type: replace-cross Abstract: A successful negotiation requires a range of capabilities, including comprehension of the conversation context, Theory-of-Mind (ToM) skills to infer the partner's motives, strategic reasoning, and effective communication, making it challenging for automated systems. Despite the remarkable performance of LLMs in various NLP tasks, there is no systematic evaluation of their capabilities in negotiation. Such an evaluation is critical for ...