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Large language models (LLMs) show increasingly advanced emergent capabilities and are being incorporated across various societal domains. Understanding their behavior and reasoning abilities therefore holds significant importance. We argue…

We explore the potential of Large Language Models (LLMs) to replicate human behavior in economic market experiments. Compared to previous studies, we focus on dynamic feedback between LLM agents: the decisions of each LLM impact the market…

Do generative AI models, particularly large language models (LLMs), exhibit systematic behavioral biases in economic and financial decisions? If so, how can these biases be mitigated? Drawing on the cognitive psychology and experimental…

Simulated Students offer a valuable methodological framework for evaluating pedagogical approaches and modelling diverse learner profiles, tasks which are otherwise challenging to undertake systematically in real-world settings. Recent…

Advancements in large language models (LLMs) have sparked a growing interest in measuring and understanding their behavior through experimental economics. However, there is still a lack of established guidelines for designing economic…

This paper explores the advancements in making large language models (LLMs) more human-like. We focus on techniques that enhance natural language understanding, conversational coherence, and emotional intelligence in AI systems. The study…

This study explores the potential of large language models (LLMs) to conduct market experiments, aiming to understand their capability to comprehend competitive market dynamics. We model the behavior of market agents in a controlled…

Large language models (LLMs) enable researchers to analyze text at unprecedented scale and minimal cost. Researchers can now revisit old questions and tackle novel ones with rich data. We provide an econometric framework for realizing this…

Large language models (LLMs) offer emerging opportunities for psychological and behavioral research, but methodological guidance is lacking. This article provides a framework for using LLMs as psychological simulators across two primary…

The rise of Generative AI, and Large Language Models (LLMs) in particular, is fundamentally changing cognitive processes in knowledge work, raising critical questions about their impact on human reasoning and problem-solving capabilities.…

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 exponential growth of text-based data in domains such as healthcare, education, and social sciences has outpaced the capacity of traditional qualitative analysis methods, which are time-intensive and prone to subjectivity. Large…

This paper explores the potential of large language models (LLMs) as reliable analytical tools in linguistic research, focusing on the emergence of affective meanings in temporal expressions involving manner-of-motion verbs. While LLMs like…

Large Language Models (LLMs) have introduced a paradigm shift in interaction with AI technology, enabling knowledge workers to complete tasks by specifying their desired outcome in natural language. LLMs have the potential to increase…

Large language models (LLMs) are rapidly being integrated into psychological research as research tools, evaluation targets, human simulators, and cognitive models. However, recent evidence reveals severe measurement unreliability:…

Recent advancements in AI have reinvigorated Agent-Based Models (ABMs), as the integration of Large Language Models (LLMs) has led to the emergence of ``generative ABMs'' as a novel approach to simulating social systems. While ABMs offer…

Large Language Models (LLMs) have transformed artificial intelligence by excelling in complex natural language processing tasks. Their ability to generate human-like text has opened new possibilities for market research, particularly in…

Large Language Models (LLMs) have emerged as transformative tools in artificial intelligence (AI), exhibiting remarkable capabilities across diverse tasks such as text generation, reasoning, and decision-making. While their success has…

Large Language Models (LLMs) excel in generating personalized content and facilitating interactive dialogues, showcasing their remarkable aptitude for a myriad of applications. However, their capabilities in reasoning and providing…

We argue that newly-developed large language models (LLMs), because of how they are trained and designed, are implicit computational models of humans -- a Homo silicus. LLMs can be used like economists use Homo economicus: they can be given…