ResearchResearch paperReasoning & Planning · Large Language Models · Agents & Tool Use1 source · Oct 16, 2026

Think More or Read More? A Token-Budget Theory of Reasoning with Shared Context

We develop a token-budget theory that formalizes this trade-off, modeling accuracy as a function of the reasoning budget remaining after reading and aggregating votes with a Condorcet jury model that permits correlated errors.

Key points

  • Reasoning systems increasingly improve answers by incorporating additional context into the model's input, from multi-agent debate, where agents read their peers' responses, to self-refinement, where a model revisits its own drafts.
  • In these systems, communication consumes context as one agent's output becomes another's input.
  • We study the regime where token reading and generation draw on one fixed token window, so every token spent reading is a token that cannot be spent reasoning.
  • For multi-agent debate, the theory gives a closed-form prediction for the optimal number of agents.

Sources (1)

  • [1]Think More or Read More? A Token-Budget Theory of Reasoning with Shared Context
    arXiv (AI, ML, NLP, CV, robotics, multi-agent) · Oct 16, 10:18 AM
    We develop a token-budget theory that formalizes this trade-off, modeling accuracy as a function of the reasoning budget remaining after reading and aggregating votes with a Condorcet jury model that permits correlated errors.
    Reasoning systems increasingly improve answers by incorporating additional context into the model's input, from multi-agent debate, where agents read their peers' responses, to self-refinement, where a model revisits its own drafts.

Extractive summary: sentences quoted from the sources.

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