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This paper investigates the rationality of large language models (LLMs) in strategic decision-making contexts, specifically within the framework of game theory. We evaluate several state-of-the-art LLMs across a spectrum of…
Large Language Models (LLMs) have become foundational in modern language-driven software applications, profoundly influencing daily life. A critical technique in leveraging their potential is role-playing, where LLMs simulate diverse roles…
Recent advancements in Large Language Models (LLMs) have significantly enhanced their ability to perform complex reasoning tasks, transitioning from fast and intuitive thinking (System 1) to slow and deep reasoning (System 2). While System…
Large language models (LLMs) are increasingly used in social science simulations. While their performance on reasoning and optimization tasks has been extensively evaluated, less attention has been paid to their ability to simulate human…
Strategic reasoning enables agents to cooperate, communicate, and compete with other agents in diverse situations. Existing approaches to solving strategic games rely on extensive training, yielding strategies that do not generalize to new…
Planning represents a fundamental capability of intelligent agents, requiring comprehensive environmental understanding, rigorous logical reasoning, and effective sequential decision-making. While Large Language Models (LLMs) have…
The reasoning capabilities of LLM (Large Language Model) are widely acknowledged in recent research, inspiring studies on tool learning and autonomous agents. LLM serves as the "brain" of the agent, orchestrating multiple tools for…
Do large language models (LLMs) display rational reasoning? LLMs have been shown to contain human biases due to the data they have been trained on; whether this is reflected in rational reasoning remains less clear. In this paper, we answer…
A Large Language Model (LLM) represents a cutting-edge artificial intelligence model that generates coherent content, including grammatically precise sentences, human-like paragraphs, and syntactically accurate code snippets. LLMs can play…
Recommender systems are essential components of many online platforms, yet traditional approaches still struggle with understanding complex user preferences and providing explainable recommendations. The emergence of Large Language Model…
Practitioners often navigate LLM performance trade-offs by plotting Pareto frontiers of optimal accuracy-cost trade-offs. However, this approach offers no way to compare between LLMs with distinct strengths and weaknesses: for example, a…
Strategic decision-making involves interactive reasoning where agents adapt their choices in response to others, yet existing evaluations of large language models (LLMs) often emphasize Nash Equilibrium (NE) approximation, overlooking the…
Recent advances in Large Language Models (LLMs) - particularly model scaling and test-time techniques - have greatly enhanced the reasoning capabilities of language models at the expense of higher inference costs. To lower inference costs,…
The planning ability of Large Language Models (LLMs) has garnered increasing attention in recent years due to their remarkable capacity for multi-step reasoning and their ability to generalize across a wide range of domains. While some…
This paper pioneers a novel approach to economic and public policy analysis by leveraging multiple Large Language Models (LLMs) as heterogeneous artificial economic agents. We first evaluate five LLMs' economic decision-making capabilities…
The potential of Large Language Model (LLM) as agents has been widely acknowledged recently. Thus, there is an urgent need to quantitatively \textit{evaluate LLMs as agents} on challenging tasks in interactive environments. We present…
Recent advances in Large Language Models (LLMs) demonstrate that chain-of-thought prompting and deep reasoning substantially enhance performance on complex tasks, and multi-agent systems can further improve accuracy by enabling model…
Economic experiments offer a controlled setting for researchers to observe human decision-making and test diverse theories and hypotheses; however, substantial costs and efforts are incurred to gather many individuals as experimental…
The use of large language models either as decision support systems, or in agentic workflows, is rapidly transforming the digital ecosystem. However, the understanding of LLM decision-making under uncertainty remains limited. We study LLM…
Large language models (LLMs) have demonstrated remarkable capabilities across a range of text-generation tasks. However, LLMs still struggle with problems requiring multi-step decision-making and environmental feedback, such as online…