Publication practices in the social sciences act as a filter that favors statistically significant results over null findings. While the problem of selection on significance (SoS) is well-known in theory, it has been difficult to measure its scope empirically, and it has been challenging to...

In an experiment on the large language model GPT-4o, a supplier always makes a higher profit if it replaces uniform contract terms with a set of terms between which the customer may choose. The extra profit results from price discrimination. There is a first order and a second order effect. The...

Die Erstellung eines Intelligence Collection Plans (ICP) stellt einen zentralen Arbeitsschritt im Schnittpunkt aus der Direction-Phase (siehe Abbildung 1) und dem Intelligence Requirement Management (IRM) innerhalb des Intelligence Cycle dar. Dieser soll ermöglichen, Informationsbedarfe...

In many jurisdictions, academia is at the service of legal practice. Law professors write commentaries that summarize the state of the art of doctrine, chiefly of jurisprudence. In the spirit of a proof of concept, using the guarantee of freedom of assembly in the European Convention on Human...

Webb, Holyoak & Lu (2023) compared human reasoners and GPT-3 on several tasks involving analogy resolution, documenting human-level or superhuman performance in most conditions. In this direct replication, we tested a different, open-weights language model (Mixtral-8x7B) on the same materials...

We investigate if Large Language Models (LLMs) exhibit personality-driven strategic behavior in the Ultimatum Game by manipulating Dark Factor of Personality (D-Factor) profiles via standardized prompts. Across 400k decisions from 17 open-source models and 4,166 human benchmarks, we test whether...

The integration of large language models (LLMs) into recommender systems (RS) has given rise to a new generation of Conversational RS (CRS). This study asks how CRS systems shape consumer behavior, and, in particular, their spending. Despite the rapid proliferation of such systems, including...

We examine the changing attention that ECB Governing Council members pay to different policy objectives by analysing more than 4,600 speeches given between the establishment of the ECB and the summer of 2024. Alongside the primary objective of price stability, we consider the following potential...

We examine the changing attention that ECB Governing Council members pay to different policy objectives by analysing more than 4,600 speeches given between the establishment of the ECB and the summer of 2024. Alongside the primary objective of price stability, we consider the following potential...

We examine the changing attention that ECB Governing Council members pay to different policy objectives by analysing more than 4,600 speeches given between the establishment of the ECB and the summer of 2024. Alongside the primary objective of price stability, we consider the following potential...

With the diffusion of LLMs between 2022 and 2025, new book releases have tripled, raising a question of AI's impact on book quality. We develop a ratings-based usage measure that is comparable across book release vintages, and we find that the vintages from the AI influx period have lower...

"This book offers a comprehensive, up-to-date guide for business leaders and professionals looking to leverage AI effectively in their organizations. It addresses the growing demand for practical knowledge on AI implementation in business contexts, filling a gap between purely technical AI...

We deployed large language model (LLM) decision support for health workers at two outpatient clinics in Nigeria. For each patient, health workers drafted care plans that were optionally revised after LLM feedback. We compared unassisted and assisted plans using blinded randomized assessments by...

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 economics literatures, we conduct the most comprehensive...

Complex problems such as climate change pose severe challenges to societies worldwide. To overcome these challenges, digital innovation contests have emerged as a promising tool for idea generation. However, assessing idea quality in innovation contests is becoming increasingly problematic in...

This article develops a novel economic sentiment indicator (LLM-ESI) by applying large language models to open-ended responses from Swiss business tendency surveys. Using a BERT-based transformer model, it extracts firmlevel sentiment from free-text survey comments and aggregates it into a...

In many jurisdictions, academia is at the service of legal practice. Law professors write commentaries that summarize the state of the art of doctrine, chiefly of jurisprudence. In the spirit of a proof of concept, using the guarantee of freedom of assembly in the European Convention on Human...

This article develops a novel economic sentiment indicator (LLM-ESI) by applying large language models to open-ended responses from Swiss business tendency surveys. Using a BERT-based transformer model, it extracts firmlevel sentiment from free-text survey comments and aggregates it into a...

In this paper, aProCheCk, an Autonomous Process Coherence Checking method, is developed. aProCheCk leverages large language models (LLMs) to enhance the coherence checking of multi-level process documentation within business process management (BPM). This research addresses the need for...

The integration of large language models (LLMs) into recommender systems (RS) has given rise to a new generation of Conversational RS (CRS). This study asks how CRS systems shape consumer behavior, and, in particular, their spending. Despite the rapid proliferation of such systems, including...

We propose a new LLM-based survey framework that enables retrospective coverage, economic reasoning, dynamic effects, and clean identification. We recover human-comparable treatment effects in a multi-wave randomized controlled trial of inflation expectations surveys, at 1/1000 the cost. To...

Geoeconomic pressure--the use of existing economic relationships by governments to achieve geopolitical or economic goals--is a prominent feature of global power dynamics. This paper introduces a methodology using large language models (LLMs) to systematically identify the application of and...

"Book Summary: This book is tailored for students, traders, and quants in finance who want to understand modern trading strategies and enhance them with artificial intelligence. It assumes basic knowledge of Python 3.x and familiarity with finance and trading concepts. Goals: AI Overview:...

How can we use the novel capacities of large language models (LLMs) in empirical research? And how can we do so while accounting for their limitations, which are themselves only poorly understood? We develop an econometric framework to answer this question that distinguishes between two types of...

In the immersive complexity of digital innovation, data-driven solution design often begins with a specific technology or potential solution already in mind. However, this predisposition narrows the design space and reduces the probability of discovering more suitable or novel alternatives. This...