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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…

General Economics · Economics 2025-05-13 R. Maria del Rio-Chanona , Marco Pangallo , Cars Hommes

When creating policies, plans, or designs for people, it is challenging for designers to foresee all of the ways in which people may reason and behave. Recently, Large Language Models (LLMs) have been shown to be able to simulate human…

Human-Computer Interaction · Computer Science 2024-07-03 Karthik Sreedhar , Lydia Chilton

The emergence of Large Language Models (LLMs), has opened exciting possibilities for constructing computational simulations designed to replicate human behavior accurately. Current research suggests that LLM-based agents become increasingly…

Computation and Language · Computer Science 2024-12-18 Amir Taubenfeld , Yaniv Dover , Roi Reichart , Ariel Goldstein

Can large language model (LLM) agents reproduce the complex social dynamics that characterize human online behavior -- shaped by homophily, reciprocity, and social validation -- and what memory and learning mechanisms enable such dynamics…

Artificial Intelligence · Computer Science 2025-10-23 Philipp J. Schneider , Lin Tian , Marian-Andrei Rizoiu

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…

Computation and Language · Computer Science 2025-07-15 Rosa Illan Castillo , Javier Valenzuela

With the rapid advancement of Large Language Models (LLMs), recent studies have drawn attention to their potential for handling not only simple question-answer tasks but also more complex conversational abilities and performing human-like…

Artificial Intelligence · Computer Science 2025-11-25 Mingyu Jeon , Jaeyoung Suh , Suwan Cho , Dohyeon Kim

Large language models (LLMs) are increasingly used to simulate or automate human behavior in complex sequential decision-making settings. A natural question is then whether LLMs exhibit similar decision-making behavior to humans, and can…

Machine Learning · Computer Science 2026-05-04 Ziyuan Zhang , Darcy Wang , Ningyuan Chen , Rodrigo Mansur , Vahid Sarhangian

The language generation and reasoning capabilities of large language models (LLMs) have enabled conversational systems with impressive performance in a variety of tasks, from code generation, to composing essays, to passing STEM and legal…

Artificial Intelligence · Computer Science 2025-02-28 Konstantina Christakopoulou , Iris Qu , John Canny , Andrew Goodridge , Cj Adams , Minmin Chen , Maja Matarić

Evaluating the surroundings to gain understanding, frame perspectives, and anticipate behavioral reactions is an inherent human trait. However, these continuous encounters are diverse and complex, posing challenges to their study and…

Computers and Society · Computer Science 2026-02-26 Deepank Verma , Olaf Mumm , Vanessa Miriam Carlow

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…

Artificial Intelligence · Computer Science 2023-05-31 Kanishk Gandhi , Dorsa Sadigh , Noah D. Goodman

Simulating user search behavior is a critical task in information retrieval, which can be employed for user behavior modeling, data augmentation, and system evaluation. Recent advancements in large language models (LLMs) have opened up new…

Information Retrieval · Computer Science 2025-04-11 Erhan Zhang , Xingzhu Wang , Peiyuan Gong , Zixuan Yang , Jiaxin Mao

The ability of Large Language Models (LLMs) to mimic human behavior triggered a plethora of computational social science research, assuming that empirical studies of humans can be conducted with AI agents instead. Since there have been…

Computation and Language · Computer Science 2025-10-21 Simon Münker , Nils Schwager , Achim Rettinger

Large Language Models (LLMs) are increasingly applied to domains that require reasoning about other agents' behavior, such as negotiation, policy design, and market simulation, yet existing research has mostly evaluated their adherence to…

Artificial Intelligence · Computer Science 2025-10-14 Enric Junque de Fortuny , Veronica Roberta Cappelli

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…

Human-Computer Interaction · Computer Science 2024-11-04 Jingru Jia , Zehua Yuan

Effective modeling of how human travelers learn and adjust their travel behavior from interacting with transportation systems is critical for system assessment and planning. However, this task is also difficult due to the complex cognition…

Artificial Intelligence · Computer Science 2025-11-04 Tianming Liu , Jirong Yang , Yafeng Yin , Manzi Li , Linghao Wang , Zheng Zhu

Large language models (LLMs) are increasingly proposed as agents in strategic decision environments, yet their behavior in structured geopolitical simulations remains under-researched. We evaluate six popular state-of-the-art LLMs alongside…

Computation and Language · Computer Science 2026-03-03 Veronika Solopova , Viktoria Skorik , Maksym Tereshchenko , Alina Haidun , Ostap Vykhopen

Large Language Model (LLM) agents have been increasingly adopted as simulation tools to model humans in social science and role-playing applications. However, one fundamental question remains: can LLM agents really simulate human behavior?…

Artificial Intelligence · Computer Science 2024-11-04 Chengxing Xie , Canyu Chen , Feiran Jia , Ziyu Ye , Shiyang Lai , Kai Shu , Jindong Gu , Adel Bibi , Ziniu Hu , David Jurgens , James Evans , Philip Torr , Bernard Ghanem , Guohao Li

This paper explores how Large Language Models (LLMs) behave in a classic experimental finance paradigm widely known for eliciting bubbles and crashes in human participants. We adapt an established trading design, where traders buy and sell…

Trading and Market Microstructure · Quantitative Finance 2025-10-14 Thomas Henning , Siddhartha M. Ojha , Ross Spoon , Jiatong Han , Colin F. Camerer

Objective: To demonstrate the capabilities of Large Language Models (LLMs) as autonomous agents to reproduce findings of published research studies using the same or similar dataset. Materials and Methods: We used the "Quick Access" dataset…

Computation and Language · Computer Science 2025-06-02 Nic Dobbins , Christelle Xiong , Kristine Lan , Meliha Yetisgen

Large Language Model (LLM) Agents have recently garnered increasing interest yet they are limited in their ability to learn from trial and error, a key element of intelligent behavior. In this work, we argue that the capacity to learn new…

Artificial Intelligence · Computer Science 2024-08-09 Haiteng Zhao , Chang Ma , Guoyin Wang , Jing Su , Lingpeng Kong , Jingjing Xu , Zhi-Hong Deng , Hongxia Yang
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