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While Large Language Models (LLMs) have demonstrated exceptional multitasking abilities, fine-tuning these models on downstream, domain-specific datasets is often necessary to yield superior performance on test sets compared to their…

Large language models (LLMs) are widely used in decision-making, but their reliability, especially in critical tasks like healthcare, is not well-established. Therefore, understanding how LLMs reason and make decisions is crucial for their…

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…

Multiple Choice Question (MCQ) tests are among the most used methods for evaluating large language models (LLMs). Besides checking the correctness of the selected answer, evaluations often consider the model's confidence through the…

Large language models (LLMs) are a type of machine learning tool that economists have started to apply in their empirical research. One such application is macroeconomic forecasting with backtesting of LLMs, even though they are trained on…

Large language models (LLMs) are stochastic, and not all models give deterministic answers, even when setting temperature to zero with a fixed random seed. However, few benchmark studies attempt to quantify uncertainty, partly due to the…

Current Large Language Models (LLMs) are unparalleled in their ability to generate grammatically correct, fluent text. LLMs are appearing rapidly, and debates on LLM capacities have taken off, but reflection is lagging behind. Thus, in this…

Machine learning practitioners often face significant challenges in formally integrating their prior knowledge and beliefs into predictive models, limiting the potential for nuanced and context-aware analyses. Moreover, the expertise needed…

Large Language Models (LLMs) are being applied in a wide array of settings, well beyond the typical language-oriented use cases. In particular, LLMs are increasingly used as a plug-and-play method for fitting data and generating…

Scaling up language models has been shown to predictably improve performance and sample efficiency on a wide range of downstream tasks. This paper instead discusses an unpredictable phenomenon that we refer to as emergent abilities of large…

This research examines the use of Large Language Models (LLMs) in predicting time series, with a specific focus on the LLMTIME model. Despite the established effectiveness of LLMs in tasks such as text generation, language translation, and…

When large language models (LLMs) are asked to perform certain tasks, how can we be sure that their learned representations align with reality? We propose a domain-agnostic framework for systematically evaluating distribution shifts in LLMs…

Previous literatures show that pre-trained masked language models (MLMs) such as BERT can achieve competitive factual knowledge extraction performance on some datasets, indicating that MLMs can potentially be a reliable knowledge source. In…

Large language models (LLMs) have significantly transformed the landscape of artificial intelligence by demonstrating their ability in generating human-like text across diverse topics. However, despite their impressive capabilities, LLMs…

Large language models (LLMs) could be valuable personal AI agents across various domains, provided they can precisely follow user instructions. However, recent studies have shown significant limitations in LLMs' instruction-following…

Previous work has showcased the intriguing capability of large language models (LLMs) in retrieving facts and processing context knowledge. However, only limited research exists on the layer-wise capability of LLMs to encode knowledge,…

The effect of large language models (LLMs) in education is debated: Previous research shows that LLMs can help as well as hurt learning. In two pre-registered and incentivized laboratory experiments, we find no effect of LLMs on overall…

Large language models (LLMs) perform very well in several natural language processing tasks but raise explainability challenges. In this paper, we examine the effect of random elements in the training of LLMs on the explainability of their…

Recent advancements in Large Language Models (LLMs) have demonstrated remarkable capabilities in various domains. However, effective decision-making relies heavily on strong reasoning abilities. Reasoning is the foundation for…

Large Language Models (LLMs) exhibit emerging in-context learning abilities through prompt engineering. The recent progress in large-scale generative models has further expanded their use in real-world language applications. However, the…