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Contemporary approaches to agent-based modeling (ABM) of social systems have traditionally emphasized rule-based behaviors, limiting their ability to capture nuanced dynamics by moving beyond predefined rules and leveraging contextual…
Generative AI is transforming the provision of expert services. This article uses a series of one-shot experiments to quantify the behavioral, welfare and distribution consequences of large language models (LLMs) on AI-AI, Human-Human,…
Agentic AI systems produce decision evidence at scale through execution telemetry, but property-level reconstruction often fails when an external party asks a specific governance question about a specific decision: the assembled evidence is…
Process Reward Models (PRMs) have achieved remarkable success in augmenting the reasoning capabilities of Large Language Models (LLMs) within static domains such as mathematics. However, their potential in dynamic data analysis tasks…
Data preparation, which aims to transform heterogeneous and noisy raw tables into analysis-ready data, remains a major bottleneck in data science. Recent approaches leverage large language models (LLMs) to automate data preparation from…
Agent-based modeling (ABM) offers powerful insights into complex systems, but its practical utility has been limited by computational constraints and simplistic agent behaviors, especially when simulating large populations. Recent…
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…
It is not an exaggeration to say that the recent progress in artificial intelligence technology depends on large-scale and high-quality data. Simultaneously, a prevalent issue exists everywhere: the budget for data labeling is constrained.…
Housing markets are inherently spatial, yet many existing models fail to capture this spatial dimension. Here we introduce a new graph-based approach for incorporating a spatial component in a large-scale urban housing agent-based model…
AI and reinforcement learning (RL) have improved many areas, but are not yet widely adopted in economic policy design, mechanism design, or economics at large. At the same time, current economic methodology is limited by a lack of…
Optimizing economic and public policy is critical to address socioeconomic issues and trade-offs, e.g., improving equality, productivity, or wellness, and poses a complex mechanism design problem. A policy designer needs to consider…
The advent of large language models (LLMs) has enabled agents to represent virtual humans in societal simulations, facilitating diverse interactions within complex social systems. However, existing LLM-based agents exhibit severe…
As LLM agents advance, they are increasingly mediating economic decisions, ranging from product discovery to transactions, on behalf of users. Such applications promise benefits but also raise many questions about agent accountability and…
The global economy is one of today's major challenges, with increasing relevance in recent decades. A frequent observation by policy makers is the lack of tools that help at least to understand, if not predict, economic crises. Currently,…
Agent Based Modeling (ABM) has become a widespread approach to model complex interactions. In this chapter after briefly summarizing some features of ABM the different approaches in modeling spatial interactions are discussed. It is…
Active learning is a machine learning paradigm that aims to improve the performance of a model by strategically selecting and querying unlabeled data. One effective selection strategy is to base it on the model's predictive uncertainty,…
In this paper, we outline a framework for modeling utility-based blockchain-enabled economic systems using Agent Based Modeling (ABM). Our approach is to model the supply dynamics based on metrics of the cryptoeconomy. We then build…
Agent-based modeling is a paradigm of modeling dynamic systems of interacting agents that are individually governed by specified behavioral rules. Training a model of such agents to produce an emergent behavior by specification of the…
Peer review is fundamental to the integrity and advancement of scientific publication. Traditional methods of peer review analyses often rely on exploration and statistics of existing peer review data, which do not adequately address the…
Perhaps the most controversial questions in the study of online platforms today surround the extent to which platforms can intervene to reduce the societal ills perpetrated on them. Up for debate is whether there exist any effective and…