Related papers: When Experimental Economics Meets Large Language M…

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…

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 models (LLMs) have demonstrated unprecedented emergent capabilities, including content generation, translation, and simulation of human behavior. Field experiments, on the other hand, are widely employed in social studies to…

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…

Large Language Models (LLMs) have emerged as powerful tools in various research domains. This article examines their potential through a literature review and firsthand experimentation. While LLMs offer benefits like cost-effectiveness and…

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…

Accurate and verifiable large language model (LLM) simulations of human research subjects promise an accessible data source for understanding human behavior and training new AI systems. However, results to date have been limited, and few…

Large language models (LLMs) have been extensively used as the backbones for general-purpose agents, and some economics literature suggest that LLMs are capable of playing various types of economics games. Following these works, to overcome…

The rapid rise of Large Language Models (LLMs) has created new disruptive possibilities for persuasive communication, enabling fully-automated, personalized, and interactive content generation at an unprecedented scale. In this paper, we…

Computational social experiments, which typically employ agent-based modeling to create testbeds for piloting social experiments, not only provide a computational solution to the major challenges faced by traditional experimental methods,…

In the short period since the release of ChatGPT, large language models (LLMs) have changed the software engineering research landscape. While there are numerous opportunities to use LLMs for supporting research or software engineering…

With the advent of large language models (LLMs), there is a growing interest in applying LLMs to scientific tasks. In this work, we conduct an experimental study to explore applicability of LLMs for configuring, annotating, translating,…

Selecting language models in business contexts requires a careful analysis of the final financial benefits of the investment. However, the emphasis of academia and industry analysis of LLM is solely on performance. This work introduces a…

This study analyzes the multiple functions of Large Language Models (LLMs) in transforming research and development (R&D) processes. By automating knowledge discovery, boosting hypothesis creation, integrating transdisciplinary insights,…

Prevailing large language models (LLMs) are capable of human responses simulation through its unprecedented content generation and reasoning abilities. However, it is not clear whether and how to leverage LLMs to simulate field experiments.…

The widespread public deployment of large language models (LLMs) in recent months has prompted a wave of new attention and engagement from advocates, policymakers, and scholars from many fields. This attention is a timely response to the…

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…

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…

The exponential growth of text-based data in domains such as healthcare, education, and social sciences has outpaced the capacity of traditional qualitative analysis methods, which are time-intensive and prone to subjectivity. Large…

The use of large language models (LLMs) for qualitative analysis is gaining attention in various fields, including software engineering, where qualitative methods are essential for understanding human and social factors. This study aimed to…