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The ability of large language models (LLMs) to manage and acquire economic resources remains unclear. In this paper, we introduce \textbf{Market-Bench}, a comprehensive benchmark that evaluates the capabilities of LLMs in…
Practitioners often navigate LLM performance trade-offs by plotting Pareto frontiers of optimal accuracy-cost trade-offs. However, this approach offers no way to compare between LLMs with distinct strengths and weaknesses: for example, a…
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…
General-purpose Large Language Models (LLMs) show significant potential in recruitment applications, where decisions require reasoning over unstructured text, balancing multiple criteria, and inferring fit and competence from indirect…
There is increasing interest in using LLMs as decision-making "agents." Doing so includes many degrees of freedom: which model should be used; how should it be prompted; should it be asked to introspect, conduct chain-of-thought reasoning,…
With the emergence of more and more economy-specific LLMS, how to measure whether they can be safely invested in production becomes a problem. Previous research has primarily focused on evaluating the performance of LLMs within specific…
This paper investigates Large Language Models (LLMs) ability to assess the economic soundness and theoretical consistency of empirical findings in spatial econometrics. We created original and deliberately altered "counterfactual" summaries…
With the continuous evolution and refinement of LLMs, they are endowed with impressive logical reasoning or vertical thinking capabilities. But can they think out of the box? Do they possess proficient lateral thinking abilities? Following…
This paper investigates the ability of large language models (LLMs) to solve statistical tasks, as well as their capacity to assess the quality of reasoning. While state-of-the-art LLMs have demonstrated remarkable performance in a range of…
Financial tasks are pivotal to global economic stability; however, their execution faces challenges including labor intensive processes, low error tolerance, data fragmentation, and tool limitations. Although large language models (LLMs)…
As Large Language Models (LLMs) become increasingly integrated into real-world decision-making systems, understanding their behavioural vulnerabilities remains a critical challenge for AI safety and alignment. While existing evaluation…
When making decisions under uncertainty, individuals often deviate from rational behavior, which can be evaluated across three dimensions: risk preference, probability weighting, and loss aversion. Given the widespread use of large language…
Large language models (LLMs) have sparked growing interest in machine learning research agents that can autonomously propose ideas and conduct experiments. However, existing benchmarks predominantly adopt an engineering-oriented…
Generating plans of action, and reasoning about change have long been considered a core competence of intelligent agents. It is thus no surprise that evaluating the planning and reasoning capabilities of large language models (LLMs) has…
The emergence of Large Language Models (LLMs) presents transformative opportunities for education, generating numerous novel application scenarios. However, significant challenges remain: evaluation metrics vary substantially across…
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 Model (LLM)-based agents have achieved notable success on short-horizon and highly structured tasks. However, their ability to maintain coherent decision-making over long horizons in realistic and dynamic environments remains…
Standard benchmarks fixate on how well large language model (LLM) agents perform in finance, yet say little about whether they are safe to deploy. We argue that accuracy metrics and return-based scores provide an illusion of reliability,…
Large Language Models (LLMs) show significant potential in economic and strategic interactions, where communication via natural language is often prevalent. This raises key questions: Do LLMs behave rationally? How do they perform compared…
Large Language Models (LLMs) are widely used for writing economic analysis reports or providing financial advice, but their ability to understand economic knowledge and reason about potential results of specific economic events lacks…