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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…

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…

The improvement of economic policymaking presents an opportunity for broad societal benefit, a notion that has inspired research towards AI-driven policymaking tools. AI policymaking holds the potential to surpass human performance through…

Would artificial intelligence (AI) cut interest rates or adopt conservative monetary policy? Would it deregulate or opt for a more controlled economy? As AI use by economic policymakers, academics, and market participants grows…

In this article, we explore the transformative potential of integrating generative AI, particularly Large Language Models (LLMs), into behavioral and experimental economics to enhance internal validity. By leveraging AI tools, researchers…

This paper introduces a methodology based on agentic workflows for economic research that leverages Large Language Models (LLMs) and multimodal AI to enhance research efficiency and reproducibility. Our approach features autonomous and…

This paper explores the seamless integration of Generative AI (GenAI) and Evolutionary Algorithms (EAs) within the domain of large-scale multi-objective optimization. Focusing on the transformative role of Large Language Models (LLMs), our…

The integration of large language models (LLMs) in economic simulations has significantly enhanced agent-based modeling, yet existing frameworks struggle to capture the interplay between short-term optimization and long-term strategic…

This study provides a comprehensive analysis of the development, functioning, and application of generative artificial intelligence (GenAI) and large language models (LLMs), with an emphasis on their implications for research and education.…

When Artificial Intelligence (AI) is used to replace consumers (e.g., synthetic data), it is often assumed that AI emulates established consumers, and more generally human behaviors. Ten experiments with Large Language Models (LLMs)…

Are large language models (LLMs) biased in favor of communications produced by LLMs, leading to possible antihuman discrimination? Using a classical experimental design inspired by employment discrimination studies, we tested widely used…

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…

The use of artificial intelligence (AI) in research across all disciplines is becoming ubiquitous. However, this ubiquity is largely driven by hyperspecific AI models developed during scientific studies for accomplishing a well-defined,…

The emergence of Generative Artificial Intelligence (AI) and Large Language Models (LLMs) has marked a new era of Natural Language Processing (NLP), introducing unprecedented capabilities that are revolutionizing various domains. This paper…

This paper explores the nuanced landscape of generative AI (genAI), particularly focusing on neural network-based models like Large Language Models (LLMs). While genAI garners both optimistic enthusiasm and sceptical criticism, this work…

As large language models (LLMs) achieve advanced persuasive capabilities, concerns about their potential risks have grown. The EU AI Act prohibits AI systems that use manipulative or deceptive techniques to undermine informed…

Political beliefs vary significantly across different countries, reflecting distinct historical, cultural, and institutional contexts. These ideologies, ranging from liberal democracies to rigid autocracies, influence human societies, as…

Large language models (LLMs) are able to engage in natural-sounding conversations with humans, showcasing unprecedented capabilities for information retrieval and automated decision support. They have disrupted human-technology interaction…

The recent surge in research focused on generating synthetic data from large language models (LLMs), especially for scenarios with limited data availability, marks a notable shift in Generative Artificial Intelligence (AI). Their ability to…

Thanks to rapid progress in artificial intelligence, we have entered an era when technology and philosophy intersect in interesting ways. Sitting squarely at the centre of this intersection are large language models (LLMs). The more adept…