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Large language models (LLMs) achieve strong performance across benchmarks--from knowledge quizzes and math reasoning to web-agent tasks--but these tests occur in static settings, lacking real dynamics and uncertainty. Consequently, they…

Trading and Market Microstructure · Quantitative Finance 2025-11-06 Haofei Yu , Fenghai Li , Jiaxuan You

Agent-Based Modelling (ABM) has emerged as an essential tool for simulating social networks, encompassing diverse phenomena such as information dissemination, influence dynamics, and community formation. However, manually configuring varied…

In financial trading, large language model (LLM)-based agents demonstrate significant potential. However, the high sensitivity to market noise undermines the performance of LLM-based trading systems. To address this limitation, we propose a…

Trading and Market Microstructure · Quantitative Finance 2025-08-19 Li Zhao , Rui Sun , Zuoyou Jiang , Bo Yang , Yuxiao Bai , Mengting Chen , Xinyang Wang , Jing Li , Zuo Bai

Reinforcement learning (RL) has demonstrated strong potential in training large language models (LLMs) capable of complex reasoning for real-world problem solving. More recently, RL has been leveraged to create sophisticated LLM-based…

Computation and Language · Computer Science 2025-05-22 Bowen Jin , Jinsung Yoon , Priyanka Kargupta , Sercan O. Arik , Jiawei Han

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…

Artificial Intelligence · Computer Science 2025-02-25 Yuzhi Hao , Danyang Xie

The rapid advancement in large language models (LLMs) has brought forth a diverse range of models with varying capabilities that excel in different tasks and domains. However, selecting the optimal LLM for user queries often involves a…

Machine Learning · Computer Science 2025-02-06 Yang Li

In display ad auctions of Real-Time Bid-ding (RTB), a typical Demand-Side Platform (DSP)bids based on the predicted probability of click and conversion right after an ad impression. Recent studies find such a strategy is suboptimal and…

Information Retrieval · Computer Science 2022-03-01 Daisuke Moriwaki , Yuta Hayakawa , Akira Matsui , Yuta Saito , Isshu Munemasa , Masashi Shibata

Text evaluation has historically posed significant challenges, often demanding substantial labor and time cost. With the emergence of large language models (LLMs), researchers have explored LLMs' potential as alternatives for human…

Computation and Language · Computer Science 2023-08-15 Chi-Min Chan , Weize Chen , Yusheng Su , Jianxuan Yu , Wei Xue , Shanghang Zhang , Jie Fu , Zhiyuan Liu

This paper explores the potential for leveraging Large Language Models (LLM) in the realm of online advertising systems. We introduce a general framework for LLM advertisement, consisting of modification, bidding, prediction, and auction…

Computers and Society · Computer Science 2024-09-10 Soheil Feizi , MohammadTaghi Hajiaghayi , Keivan Rezaei , Suho Shin

In the realm of online advertising, advertisers partake in ad auctions to obtain advertising slots, frequently taking advantage of auto-bidding tools provided by demand-side platforms. To improve the automation of these bidding systems, we…

Machine Learning · Computer Science 2025-06-30 Hao Jiang , Yongxiang Tang , Yanxiang Zeng , Pengjia Yuan , Yanhua Cheng , Teng Sha , Xialong Liu , Peng Jiang

Advancements in large language models (LLMs) allow them to address diverse questions using human-like interfaces. Still, limitations in their training prevent them from answering accurately in scenarios that could benefit from multiple…

Artificial Intelligence · Computer Science 2025-04-09 Yoshitaka Inoue , Tianci Song , Xinling Wang , Augustin Luna , Tianfan Fu

Language agents based on large language models (LLMs) have demonstrated great promise in automating web-based tasks. Recent work has shown that incorporating advanced planning algorithms, e.g., tree search, is advantageous over reactive…

Artificial Intelligence · Computer Science 2025-04-02 Yu Gu , Kai Zhang , Yuting Ning , Boyuan Zheng , Boyu Gou , Tianci Xue , Cheng Chang , Sanjari Srivastava , Yanan Xie , Peng Qi , Huan Sun , Yu Su

Significant progress has been made in automated problem-solving using societies of agents powered by large language models (LLMs). In finance, efforts have largely focused on single-agent systems handling specific tasks or multi-agent…

Trading and Market Microstructure · Quantitative Finance 2025-06-04 Yijia Xiao , Edward Sun , Di Luo , Wei Wang

Recent studies have uncovered the potential of Large Language Models (LLMs) in addressing complex sequential decision-making tasks through the provision of high-level instructions. However, LLM-based agents lack specialization in tackling…

Artificial Intelligence · Computer Science 2024-05-28 Zihao Zhou , Bin Hu , Chenyang Zhao , Pu Zhang , Bin Liu

Large Language Models (LLMs) have demonstrated impressive performance across diverse domains, yet they still encounter challenges such as insufficient domain-specific knowledge, biases, and hallucinations. This underscores the need for…

Computation and Language · Computer Science 2025-04-07 Hongliu Cao , Ilias Driouich , Robin Singh , Eoin Thomas

Reinforcement Learning (RL) has traditionally focused on training specialized agents to optimize predefined reward functions within narrowly defined environments. However, the advent of powerful Large Language Models (LLMs) and increasingly…

Artificial Intelligence · Computer Science 2026-05-18 Fangming Cui , Ruixiao Zhu , Cheng Fang , Sunan Li , Jiahong Li

In online advertising, auto-bidding has become an essential tool for advertisers to optimize their preferred ad performance metrics by simply expressing high-level campaign objectives and constraints. Previous works designed auto-bidding…

Multiagent Systems · Computer Science 2022-01-06 Chao Wen , Miao Xu , Zhilin Zhang , Zhenzhe Zheng , Yuhui Wang , Xiangyu Liu , Yu Rong , Dong Xie , Xiaoyang Tan , Chuan Yu , Jian Xu , Fan Wu , Guihai Chen , Xiaoqiang Zhu , Bo Zheng

Data marketplaces, which mediate the purchase and exchange of data from third parties, have attracted growing attention for reducing the cost and effort of data collection while enabling the trading of diverse datasets. However, a…

Multiagent Systems · Computer Science 2025-11-18 Jun Sashihara , Yukihisa Fujita , Kota Nakamura , Masahiro Kuwahara , Teruaki Hayashi

Real-Time Bidding (RTB) display advertising is a method for purchasing display advertising inventory in auctions that occur within milliseconds. The performance of RTB campaigns is generally measured with a series of Key Performance…

Computer Science and Game Theory · Computer Science 2020-07-02 Michael Tashman , Jiayi Xie , John Hoffman , Lee Winikor , Rouzbeh Gerami

Recent advances in Large Language Models (LLMs) have shown remarkable capabilities in financial reasoning and market understanding. Multi-agent LLM frameworks such as TradingAgent and FINMEM augment these models to long-horizon investment…

Computational Engineering, Finance, and Science · Computer Science 2025-09-30 Fei Xiong , Xiang Zhang , Aosong Feng , Siqi Sun , Chenyu You