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Agent-based models (ABMs) are simulation models used in economics to overcome some of the limitations of traditional frameworks based on general equilibrium assumptions. However, agents within an ABM follow predetermined 'bounded rational'…
Flood insurance is an effective strategy for individuals to mitigate disaster-related losses. However, participation rates among at-risk populations in the United States remain strikingly low. This gap underscores the need to understand and…
This work leverages Large Language Models (LLMs) to simulate human mobility, addressing challenges like high costs and privacy concerns in traditional models. Our hierarchical framework integrates persona generation, activity selection, and…
The emergence of multi-agent systems powered by large language models (LLMs) has unlocked new frontiers in complex task-solving, enabling diverse agents to integrate unique expertise, collaborate flexibly, and address challenges…
Recent advances in the intrinsic reasoning capabilities of large language models (LLMs) have given rise to LLM-based agent systems that exhibit near-human performance on a variety of automated tasks. However, although these systems share…
The advent of artificial intelligence has led to a growing emphasis on data-driven modeling in macroeconomics, with agent-based modeling (ABM) emerging as a prominent bottom-up simulation paradigm. In ABM, agents (e.g., households, firms)…
Agent-based models (ABMs) have shown promise for modelling various real world phenomena incompatible with traditional equilibrium analysis. However, a critical concern is the manual definition of behavioural rules in ABMs. Recent…
Recent advances in large language models (LLMs) have opened new avenues for applying multi-agent systems in very large-scale simulations. However, there remain several challenges when conducting multi-agent simulations with existing…
This study presents an innovative approach to urban mobility simulation by integrating a Large Language Model (LLM) with Agent-Based Modeling (ABM). Unlike traditional rule-based ABM, the proposed framework leverages LLM to enhance agent…
Bargaining, a critical aspect of real-world interactions, presents challenges for large language models (LLMs) due to limitations in strategic depth and adaptation to complex human factors. Existing benchmarks often fail to capture this…
Agents, as user-centric tools, are increasingly deployed for human task delegation, assisting with a broad spectrum of requests by generating thoughts, engaging with user proxies, and producing action plans. However, agents based on large…
With the development of LLMs as agents, there is a growing interest in connecting multiple agents into multi-agent systems to solve tasks concurrently, focusing on their role in task assignment and coordination. This paper explores how LLMs…
Computational experiments have emerged as a valuable method for studying complex systems, involving the algorithmization of counterfactuals. However, accurately representing real social systems in Agent-based Modeling (ABM) is challenging…
As AI agents evolve, the community is rapidly shifting from single Large Language Models (LLMs) to Multi-Agent Systems (MAS) to overcome cognitive bottlenecks in automated research. However, the optimal multi-agent coordination framework…
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…
Remarkable performance of large language models (LLMs) in a variety of tasks brings forth many opportunities as well as challenges of utilizing them in production settings. Towards practical adoption of LLMs, multi-agent systems hold great…
Optimization is as much about modeling the right problem as solving it. Identifying the right objectives, constraints, and trade-offs demands extensive interaction between researchers and stakeholders. Large language models can empower…
Systematic Literature Reviews (SLRs) are foundational to evidence-based research but remain labor-intensive and prone to inconsistency across disciplines. We present an LLM-based SLR evaluation copilot built on a Multi-Agent System (MAS)…
With the rapid advancement of large language models (LLMs), recent years have witnessed many promising studies on leveraging LLM-based agents to simulate human social behavior. While prior work has demonstrated significant potential across…
We introduce a novel framework for simulating macroeconomic expectations using LLM Agents. By constructing LLM Agents equipped with various functional modules, we replicate three representative survey experiments involving several…