Agents in Commerce

Preprint: full disclosure broke LLM agent auctions for several frontier models

Researchers testing ten frontier LLMs in simulated markets report full disclosure in double auctions cut welfare for Claude Opus 5.5 from 94% to 64% and Grok 4.7 from 97% to 62%; effects in trade varied by model.

Why it matters: If agents negotiate or trade for you, test what each one can see with the model you actually use; the authors find more information can lower outcomes depending on the model.