Related papers: Zero Intelligence Models of the Continuous Double …
Large Language Models (LLMs) exhibit powerful summarization abilities. However, their capabilities on conversational summarization remains under explored. In this work we evaluate LLMs (approx. 10 billion parameters) on conversational…
Double Auction enables decentralized transfer of goods between multiple buyers and sellers, thus underpinning functioning of many online marketplaces. Buyers and sellers compete in these markets through bidding, but do not often know their…
We investigate contextual online learning with nonparametric (Lipschitz) comparison classes under different assumptions on losses and feedback information. For full information feedback and Lipschitz losses, we design the first explicit…
Although behavioral economics has demonstrated that there are many situations where rational choice is a poor empirical model, it has so far failed to provide quantitative models of economic problems such as price formation. We make a step…
This paper analyzes repeated version of the bilateral trade model where the independent payoff relevant private information of the buyer and the seller is correlated across time. Using this setup it makes the following five contributions.…
Large Language Models (LLMs) are capable of performing zero-shot closed-book question answering tasks, based on their internal knowledge stored in parameters during pre-training. However, such internalized knowledge might be insufficient…
In the standard single-dimensional model of position auctions, bidders agree on the relative values of the positions and each of them submits a single bid that is interpreted in terms of these values. Motivated by current practice in…
In the present work we introduce a novel multi-agent model with the aim to reproduce the dynamics of a double auction market at microscopic time scale through a faithful simulation of the matching mechanics in the limit order book. The…
We introduce novel null models for assessing the results obtained from observed binary transactional and sequence datasets, using statistical hypothesis testing. Our null models maintain more properties of the observed dataset than existing…
Large language model (LLM) performance on reasoning problems typically does not generalize out of distribution. Previous work has claimed that this can be mitigated with chain of thought prompting-a method of demonstrating solution…
This paper provides the first systematic economic analysis of token pricing in the large language model (LLM) inference market. Assembling a novel dataset integrating OpenRouter API data (318 models), Epoch AI records (3,237 models), and 62…
This paper presents a learning-based approach to detecting failures in reactive systems. The technique is based on inferring models of multiple implementations of a common specification which are pair-wise cross-checked for equivalence. Any…
To evaluate knowledge in large language models (LLMs), current methods query the model and then evaluate its generated responses. In this work, we ask whether evaluation can be done before the model has generated any text. Concretely, is it…
Human intuition has been simulated by several research projects using artificial intelligence techniques. Most of these algorithms or models lack the ability to handle complications or diversions. Moreover, they also do not explain the…
We propose a regression model for count data when the classical generalized linear model approach is too rigid due to a high outcome of zero counts and a nonlinear influence of continuous covariates. Zero-Inflation is applied to take into…
Large-scale knowledge graphs provide structured representations of human knowledge. However, as it is impossible to collect all knowledge, knowledge graphs are usually incomplete. Reasoning based on existing facts paves a way to discover…
This letter considers the design of an auction mechanism to sell the object of a seller when the buyers quantize their private value estimates regarding the object prior to communicating them to the seller. The designed auction mechanism…
As LLMs become embedded in research workflows and organizational decision processes, their effect on analytical reliability remains uncertain. We distinguish two dimensions of analytical reliability -- intelligence (the capacity to reach…
In this work, we study spectrum auction problem where each request from secondary users has spatial, temporal, and spectral features. With the requests of secondary users and the reserve price of the primary user, our goal is to design…
One popular approach to model the limit order books dynamics of the best bid and ask at level-1 is to use the reduced-form diffusion approximations. It is well known that the biggest contributing factor to the price movement is the…