Organizations: University of Liverpool, Liverpool, United Kingdom · Carl von Ossietzky University of Oldenburg, Oldenburg, Germany · Chalmers University of Technology, Gothenburg, Sweden
How do LLM agents' strategies differ, and how much can instructions to adopt a persona change their behavior over a game? We study these questions with AgentMonopoly, an environment where agents communicate, buy and trade properties, and make decisions that affect later turns. We compare models from four families, each at two sizes, in games with identical models, different sizes of the same family, or different families. We also assign one agent a persona, a description of how it should behave, intended to change a tendency observed in games without that persona. The tested models differ in how often they trade, waive rent, and manage cash and properties. Larger models do not consistently win more games. Persona instructions change the words agents use and some of their actions, but the changes do not always match the role across all decisions. These results show why persona following should be assessed through actions and outcomes as well as language. As our findings are conditional on the tested checkpoints, prompts, and five seeds per configuration, the open-source nature of AgentMonopoly provides the experimental infrastructure for further extending these comparisons. Our code is available at https://github.com/SuELS-Group/Agent_Monopoly.
Figures & tables
Figure 1: Examples of communication and actions in AgentMonopoly.
Study
Main comparison
Relation to AgentMonopoly
NegotiationArena ( Bianchi et al., 2024 )
Negotiation skills and tactics in resource-sharing and bargaining tasks.
We study several decision types in a four-player game where cash and property ownership carry over between turns.
FinBoardBench ( Hu et al., 2026 )
Dynamic financial decision-making across three board games; interactions evaluated by their financial consequences.
We focus on social interaction patterns, persona-related changes, and consistency between words and actions. Game outcomes provide context.
PERIL ( Licato and Steinle, 2025 )
Converting personas into rules for choosing moves, and measuring game performance.
Our LLMs choose actions directly during play; we compare their messages and actions.
Story and persona study ( Wang et al., 2026 )
Testing personas across stories with the same decision structure, including tests that remove action words.
We keep the game setting fixed and compare both language and actions while agents respond to each other.
Table 1: Comparison with closely related studies by research question and experimental design.
Figure 2: Behavior in same-model games: (a) trade proposals per 100 dice rolls, (b) acceptance of received trade offers, and (c) rent-waiver rate. Each dot represents a game, with five games per model version. Size labels identify the tested models; similar sizes do not imply equal capabilities across families.
Figure 3: Win counts by player position in (a) 20 same-model games using larger models and (b) 20 persona games. In (b), the agent assigned a persona always plays at P1. Each family contributes five games per panel.
Figure 4: Agents assigned a persona and their opponents without a persona: persona-related words in (a) public messages and (b) private messages, and (c) public-message length. Dots represent observations from individual games. Word frequency measures the use of persona-related terms.
Figure 5: Agents assigned a persona and their opponents without a persona: (a) proposals per 100 of an agent’s own rolls, (b) acceptance of received offers, (c) average house equivalents at game end(a hotel counts as five houses), and (d) minimum cash while still in the game.
Appendix figures & tables7 assets
Supplementary material from the paper’s appendix.
Appendix
Figure 6: The game board used in the experiments, with street names adapted to Oldenburg.
Model label
Persona
Intended behavioral change
Qwen3-32B
Zen
Propose fewer trades, act less urgently, buy selectively, and avoid spending too much.
DeepSeek-R1-32B
Independent
Acquire and develop properties with less reliance on trades and other players.
Gemma4-26B
Diplomatic
Increase friendly communication and seek cooperation or alliances.
Mistral-Small-24B
Conservative
Keep cash in reserve and avoid risky or unfavorable trades.
Appendix
Table 2: Persona conditions. Only P1 receives the persona; P2–P4 use the same model with the base prompt. Each row is evaluated with seeds 42–46.
Setting
Players
Reported games per setup
Games
S1
Four copies of one model; four families at two sizes.
8 models × 5 seeds
40
S2
Two players using the larger model and two using the smaller model from the same family.
4 families × 2 seatings × 5 seeds
40
S3
One model from each family within a size group.
2 size groups × 4 turn orders × 5 seeds
40
S4
Four copies of a larger model; only P1 receives a persona.
4 family–persona pairs × 5 seeds
20
Appendix
Table 3: Overview of the four experimental settings (S1–S4), including player composition, the detailed game counts and the total number of games in each setting.
Family
Larger models
Smaller models
Qwen
Qwen3-32B
Qwen3-8B
DeepSeek
DeepSeek-R1-32B
DeepSeek-R1-8B
Gemma
Gemma4-26B
Gemma4-12B
Mistral
Mistral-Small-24B
Mistral-Nemo-12B
Appendix
Table 4: Model identifiers used in the experiments, grouped by family and relative model size.
Figure 7: The interface for reviewing recorded games.
Figure 8: Win counts in mixed-size games (S2) by model family and player position for (a) larger and (b) smaller models. Each cell reports the number of games won by models of the indicated size at the corresponding position. Across ten games per family, larger models account for 18 wins and smaller models for 22.
Model
Wins
Wins by seat (P1/P2/P3/P4)
Proposals per 100 dice rolls
Acceptance rate (%)
Qwen3-32B
3/20
0/1/1/1
110.0 (homog. 109.6)
54 (homog. 58)
DeepSeek-R1-32B
2/20
0/1/0/1
92.0 (homog. 89.9)
54 (homog. 53)
Mistral-Small-24B
1/20
0/0/0/1
86.5 (homog. 65.5)
75 (homog. 67)
Gemma4-26B
14/20
3/3/3/5
23.3 (homog. 33.3)
56 (homog. 17)
Qwen3-8B
0/20
0/0/0/0
91.8 (homog. 93.6)
81 (homog. 76)
DeepSeek-R1-8B
6/20
1/1/3/1
64.9 (homog. 73.9)
50 (homog. 33)
Appendix
Table 5: Win counts and behavioral measures in cross-family games (S3). Each model participated in 20 games, with five games at each player position. Games lasted up to 150 steps. Trade-proposal rates and acceptance rates are pooled across the 20 games. Values in parentheses report the corresponding measures from same-model games (S1).
Nov 6, 2025·Andrea Cera Palatsi, Samuel Martin-Gutierrez, Ana S. Cardenal +1LLM EvaluationGame Theory
Department for Computational Social Sciences and Humanities, Barcelona Supercomputing Center · Grupo de Sistemas Complejos, Universidad Polit´ecnica de Madrid · School of Law and Political Science, Universitat Oberta de Catalunya +1