In LLM Reasoning, there is Irrationality on top of Value Misalignment

arXiv:2606.20624v1 Announce Type: new Abstract: Significant progress has been made in aligning LLMs with target value functions. We argue that, even when an LLM has been well aligned in (post-)training, it may still fail to maximise the aligned value in reasoning. We mathematically formalise this gap as rational value risk: the utility discrepancy between a model's deployed reasoning strategy and its rational counterpart, which is defined to be the responses that maximise expected utility in the...