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The emergence of Large Language Models (LLMs), has opened exciting possibilities for constructing computational simulations designed to replicate human behavior accurately. Current research suggests that LLM-based agents become increasingly…

Large language models (LLMs) increasingly mediate economic and organisational processes, from automated customer support and recruitment to investment advice and policy analysis. These systems are often assumed to embody rational decision…

When creating policies, plans, or designs for people, it is challenging for designers to foresee all of the ways in which people may reason and behave. Recently, Large Language Models (LLMs) have been shown to be able to simulate human…

Cognitive biases often shape human decisions. While large language models (LLMs) have been shown to reproduce well-known biases, a more critical question is whether LLMs can predict biases at the individual level and emulate the dynamics of…

Large Language Models (LLMs) are increasingly used in decision-making scenarios that involve risk assessment, yet their alignment with human economic rationality remains unclear. In this study, we investigate whether LLMs exhibit risk…

Large Language Models (LLMs) have emerged as formidable instruments capable of comprehending and producing human-like text. This paper explores the potential of LLMs, to shape user perspectives and subsequently influence their decisions on…

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…

Large language models (LLMs) are increasingly used in social science simulations. While their performance on reasoning and optimization tasks has been extensively evaluated, less attention has been paid to their ability to simulate human…

Humans act via a nuanced process that depends both on rational deliberation and also on identity and contextual factors. In this work, we study how large language models (LLMs) can simulate human action in the context of social dilemma…

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…

Modeling subrational agents, such as humans or economic households, is inherently challenging due to the difficulty in calibrating reinforcement learning models or collecting data that involves human subjects. Existing work highlights the…

Large Language Models (LLMs) have demonstrated their capabilities across various tasks, from language translation to complex reasoning. Understanding and predicting human behavior and biases are crucial for artificial intelligence (AI)…

Large Language Models (LLMs) have revolutionised the capability of AI models in comprehending and generating natural language text. They are increasingly being used to empower and deploy agents in real-world scenarios, which make decisions…

A long-standing challenge in developing accurate recommendation models is simulating user behavior, mainly due to the complex and stochastic nature of user interactions. Towards this, one promising line of work has been the use of Large…

Accurately simulating human opinion dynamics is crucial for understanding a variety of societal phenomena, including polarization and the spread of misinformation. However, the agent-based models (ABMs) commonly used for such simulations…

As large language models (LLMs) increasingly act as autonomous agents in markets and organizations, their behavior in strategic environments becomes economically consequential. We document that off-the-shelf LLM agents exhibit systematic…

The ongoing revolution in language modeling has led to various novel applications, some of which rely on the emerging social abilities of large language models (LLMs). Already, many turn to the new cyber friends for advice during the…

The use of large language models (LLMs) to simulate human behavior has gained significant attention, particularly through personas that approximate individual characteristics. Persona-based simulations hold promise for transforming…

While advances in fairness and alignment have helped mitigate overt biases exhibited by large language models (LLMs) when explicitly prompted, we hypothesize that these models may still exhibit implicit biases when simulating human…

Large language models (LLMs) are increasingly proposed as agents in strategic decision environments, yet their behavior in structured geopolitical simulations remains under-researched. We evaluate six popular state-of-the-art LLMs alongside…