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It is also a canonical testbed for agentic language models, requiring multi-turn interaction under hidden preferences, strategic communication, and binding constraints. These properties make negotiation hard to evaluate: unlike math or code, it has no intrinsic verifier. Existing LLM negotiation evaluations rely on LLM-vs.-LLM interaction or aggregate outcomes such as deal rate, leaving failures opaque. We introduce Terms-Bench, short for Testbed for Economic Reasoning in Multi-turn Strategy, a Bayesian-game framework that makes the environment itself the verifier by specifying the counterpart's latent type, policy, and payoff structure. We instantiate it in bilateral price negotiation, where the counterpart's private state and simulator policy are hidden from the agent but observable to the evaluato","title":"TERMS-Bench: Diagnosing LLM Negotiation Agents Beyond Deal Rate","url":"https://arxiv.org/abs/2605.13909","vendor":"arxiv_cs_ai"},"summary":"arXiv:2605.13909v2 Announce Type: replace-cross \nAbstract: Negotiation is a central mechanism of economic exchange, shaping markets, procurement, labor agreements, and resource allocation. It is also a canonical testbed for agentic language models, requiring multi-turn interaction under hidden preferences, strategic communication, and binding constraints. These properties make negotiation hard to evaluate: unlike math or code, it has no intrinsic verifier. Existing LLM negotiation evaluations rely on LLM-vs.-LLM interaction or aggregate outcomes such as deal rate, leaving failures opaque. We introduce Terms-Bench, short for Testbed for Economic Reasoning in Multi-turn Strategy, a Bayesian-game framework that makes the environment itself the verifier by specifying the counterpart's latent type, policy, and payoff structure. We instantiate it in bilateral price negotiation, where the counterpart's private state and simulator policy are hidden from the agent but observable to the evaluato","title":"TERMS-Bench: Diagnosing LLM Negotiation Agents Beyond Deal Rate","vendor":"arxiv_cs_ai"},"confidence":{"method":"deterministic"},"decision":"POSITIVE","issued_at":"2026-06-16T04:43:43Z","notes":"Spider vendor_press (news) news.vendor_press.v1","object":{"captured_by":"crovia.spider.vendor_press","primary_source_url":"https://arxiv.org/abs/2605.13909"},"predecessors":[],"schema":"crovia.axiom.v1","signature":"ed25519:366fd11d46c0431b122cc21a982b120ccddedd16856e54609d2aa0837a34ad33c77dad3c7558250e5f6f5b325b6fa23a76bdf669535b072bb6b84a39a63a6f02","signer":"crovia.substrate","subject":{"observed_at":"2026-06-16T04:43:43Z","source_collector":"spider:vendor_press","target_id":"https://arxiv.org/abs/2605.13909"},"tsa":{"authority":"crovia.substrate.bootstrap","rfc3161_token":"{\"kind\":\"crovia.bootstrap.tsa\",\"source_jsonl\":\"/opt/crovia/spider/data/news/vendor_press_v1.jsonl\",\"source_seal_merkle_root\":\"spider_vendor_press_v1\",\"upgrade_path\":\"Sessione H \\u2014 OpenTimestamps weekly anchor\"}"},"zk_mode":"clear","zk_proof":null},"ledger":{"leaf_hash":"01196e7f877d91b6931cfaaed8c8432fe0267ce1ed5bc884c28d7069272986e6","leaf_index":230792,"ledger_path":"/opt/crovia/substrate/axiom_ledger.jsonl"},"merkle_proof":{"hash_alg":"sha256","leaf_prefix":"0x00","node_prefix":"0x01","odd_leaf_rule":"duplicate_last","path":[{"sibling":"f4bde3a1dc4012feda805afbd9445cb8b0628376037f8b63d49315e3da87461f","side":"right"},{"sibling":"2043c2a134461152360fc701ec40e73caa767af7118e1381b86837c2863dd47b","side":"right"},{"sibling":"aab3ba8ce506724459b43953704c2f8429c2cdfe121e4fb529a8ecd47ed88c3a","side":"right"},{"sibling":"67fcc667daa7712c0c3418750e515d32dc96a39447d7e215c43548334a6d7584","side":"left"},{"sibling":"33264101a6893b53db7af5da7aa4531a4430446f9ced9072c60b006a86d4c18d","side":"right"},{"sibling":"50cea08126ed287e5b3dabf840943d6e26e8d65f18682db9216cfe605e535ddd","side":"right"},{"sibling":"90464f4409b029e1dcd77d11d8047eceacd4ba933aa7e3d9aa763297dec7367d","side":"right"},{"sibling":"46f3925bb1c995570704f74c45315769d7303b87cc2d1f176bed247b9cc9fdad","side":"left"},{"sibling":"ee59602dad0bf74c97a32a93f0a1a19e7a12f2800791988a6fdf35611febe031","side":"left"},{"sibling":"0c5669692381d605223c74b8d30f70cd308e77e33d5e40ea84bb7b4f84f2d4d9","side":"right"},{"sibling":"d5b9f8b1a2c9f6a46e17982dfbe6ce1f3b5fa4e730220397f2253d114dcc8486","side":"left"},{"sibling":"d10d772a4984cae00e65ab24af21d1d260e475bbaae3f17871859eb705bd3999","side":"right"},{"sibling":"e79159853f2f35ddae8e3247d515e433c534277b287d65bbd77ae989aa4992fa","side":"right"},{"sibling":"3054319f1840cce0eaaf0bc4b1ae38e5bf8b6210927d924a750775cc7d77cca6","side":"right"},{"sibling":"0fd8b5059f279c4a4a6688de2472fdbc25543fee183df19b21dacca880354cff","side":"right"},{"sibling":"a04392fb9f2a3a620840e3b3fecd93d12e6d224e481c162389d8ae64e7194599","side":"left"},{"sibling":"c300cf0154c136afc09b1702a0be98f4ba5b6dc5cf57e8cc714ec1eaf4196eff","side":"left"},{"sibling":"d841ad93efda0869e5eb97678f348f03f5caab4353e05ff4bf18f47fb945b822","side":"left"}]},"schema":"crovia.axiom_proof.v1","seal":{"first_collector_run_id":"","first_receipt_hash":"","jsonl_path":"/opt/crovia/substrate/axiom_ledger.jsonl","key_id":"430895f101d38164","last_collector_run_id":"","last_receipt_hash":"","leaf_count":232015,"merkle_root":"62bfb7809bb55667ad7eeebdb48267b9b2c1ee89bb808ea1e6d3a814a15aa402","public_key_hex":"cf742e26f75669dc673cb5c0786a1ae23ae8ca19c347317192ce40c28a7ff25c","run_id":"hourly_json_retrofit_20260617T133701Z","schema":"crovia.seal.v1","seal_family_version":"crovia-seal-family/1","seal_kind":"substrate_batch","sealed_at":"2026-06-17T13:39:59Z","sig_algorithm":"ed25519","signature":"930a3563c643cc7518d048b12a1f5392a96a5edce49533ba0a56f11b6cc69319bb1c800aacc46b52a6941c4d05dae255a45cac757d6093c971b96852c24f140e","signer_version":"1.1.0"},"trust_root":{"key_id":"430895f101d38164","public_key_hex":"cf742e26f75669dc673cb5c0786a1ae23ae8ca19c347317192ce40c28a7ff25c","signature_algorithm":"ed25519","url":"/registry/canon/TRUST_ROOT.md"},"verifier":{"spec":"/registry/canon/AXIOM_RECEIPT_v1.md","url":"/v/axm_fd96c2391aeaba7b9aebf183dafe0918c3deb18bc2e6e68bf3ca0ae6789f0302"}}