How Does Cognitive Bias Affect Large Language Models? A Case Study on the Anchoring Effect in Price Negotiation Simulations

Yoshiki Takenami, Yin Jou Huang, Yugo Murawaki +1

Cognitive biases, well-studied in humans, can also be observed in LLMs, affecting their reliability in real-world applications. This paper investigates the anchoring effect in LLM-…