Search arXiv⌕ Search

arXiv · 2609.31468

PriceBench: A Diagnostic Benchmark for Price, Quality, and Brand Preferences in LLM Booking Agents

Abstract

LLMs increasingly act as purchasing agents, which makes the LLM, not the user, the one choosing among the options that satisfy a request; its preferences quietly fix what gets bought and what it costs. Hotel booking is a clean instance: a high-volume choice settled on a few comparable attributes, where the pick reveals those preferences. We introduce PriceBench, a diagnostic benchmark that recovers an LLM's price, quality, and brand preferences from its booking choices with a logit choice model, applied to 28 LLMs from 8 providers on 3,600 hotel tasks from 179 real New York City properties. We find that capability is associated with how consistently an LLM chooses, not with what it chooses: more capable LLMs hold stronger, more consistent preferences, while weaker ones either lock onto one position, exploitable by whoever controls listing order, or choose almost indifferently. What those preferences favor varies sharply across providers and even within one family: price sensitivity spans more than an order of magnitude, and the price/quality trade-off moves mean booked nightly price from \$247 to \$393 on identical tasks. What an agent buys must therefore be measured per LLM, not inferred, and we release the tasks, code, and all 28 response sets.

Explore related subjects

Keep this discovery

Explore connections, maps & timelines

BibTeXRIS

Pavel Kireyev. 2026-09-25. PriceBench: A Diagnostic Benchmark for Price, Quality, and Brand Preferences in LLM Booking Agents. https://arxiv.org/abs/2609.31468

Cite the original work for its findings. Save a collection to share your selection of sources.

KEEP EXPLORING

Related papers

Two Margins of Climate Cooperation: Emissions and Coalition Membership under Tipping

We study climate coalition stability with endogenous temperature and stochastic tipping. In our dynamic game, rising temperature widens the emissions gap between members and nonmembers, shrinking stable coalitions over time. The threat of tipping strengthens free-riding, raising emissions and reducing coalition size; its occurrence also contracts coalitions numerically. Advanced regions form the core, while emerging & developing regions drive membership variation. Comparing policy instruments, connection (internal incentives) and sanctions (external penalties) sustain similar coalitions, but connection raises aggregate payoffs, whereas sanctions achieve larger emissions cuts. As tipping approaches, this trade-off intensifies, making the optimal institutional design state-dependent.

econ.GN↗

New Demand Economics: Education, Demand Upgrading, and Structural Change

Education can change what households buy as well as what workers produce. We study this demand channel in a two-sector growth model. Education shifts spending toward an education-sensitive bundle, drawing labor into the sector that supplies it. Learning lowers its relative price. When substitution between the bundles is strong enough, the price decline raises its expenditure share and reinforces the initial shift. The balance between this feedback and technological catch-up determines the long-run allocation. Weak feedback gives a unique stable configuration. Strong feedback can sustain two stable configurations with different expenditure shares, so the long-run outcome depends on initial productivity. A sufficiently large, attainable increase in education removes the low-share configuration. This transition can occur through demand alone, without a direct productivity effect of education. Early consumption commitments can also change the economy's destination, even though their budget share eventually vanishes. The growth and welfare consequences depend on learning gained in the expanding sector and learning forgone in the other. We derive the net learning benefit that a planner would attach to reallocation.

econ.GN↗

Big Wins, Small Net Gains: Direct and Spillover Effects of First Industry Entries in Puerto Rico

I study how first sizable industry entries reshape local and neighboring labor markets in Puerto Rico. Using over a decade of quarterly municipality--industry data (2014Q1--2025Q1), I identify ``first sizable entries'' as large, persistent jumps in establishments, covered employment, and wage bill, and treat these as shocks to local industry presence at the municipio--industry level. Methodologically, I combine staggered-adoption difference-in-differences estimators that are robust to heterogeneous treatment timing with an imputation-based event-study approach, and I use a doubly robust difference-in-differences framework that explicitly allows for interference through pre-specified exposure mappings on a contiguity graph. The estimates show large and persistent direct gains in covered employment and wage bill in the treated municipality--industry cells over 0--16 quarters. Same-industry neighbors experience sizable short-run gains that reverse over the medium run, while within-municipality cross-industry and neighbor all-industries spillovers are small and imprecisely estimated. Once these spillovers are taken into account and spatially robust inference and sensitivity checks are applied, the net regional 0--16 quarter effect on covered employment is positive but modest in magnitude and estimated with considerable uncertainty. The results imply that first sizable entries generate substantial local gains where they occur, but much smaller and less precisely measured net employment gains for the broader regional economy, highlighting the importance of accounting for spatial spillovers when evaluating place-based policies.

econ.GN↗