Designing the Outside Option: Anchors, Mixed Equilibria, and Welfare in LLM Routing Auctions

Xinyu Hou, Yang Lu, Rabimba Karanjai, Pei-Chi Pan, Sen Lin, Lei Xu, Weidong Shi Oct 1, 2026
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Abstract

Preprint: Mechanism design for LLM routing auctions — outside options, anchors, mixed equilibria, and welfare.

Type Preprint
Venue AAAI 2027 (Under Review)
Date Oct 2026
LLM Routing Mechanism Design
LLM Routing Mechanism Design