Behavioral parameters such as loss aversion, herding, and extrapolation are central to asset pricing models but remain difficult to measure reliably. We develop a framework that treats large language models (LLMs) as calibrated measurement instruments for behavioral parameters. Using four models and 24{,}000 agent--scenario pairs, we document systematic rationality bias in baseline LLM behavior, including attenuated loss aversion, weak herding, and near-zero disposition effects relative to human benchmarks. Profile-based calibration induces large, stable, and theoretically coherent shifts in several parameters, with calibrated loss aversion, herding, extrapolation, and anchoring reaching or exceeding benchmark magnitudes. To assess external validity, we embed calibrated parameters in an agent-based asset pricing model, where calibrated extrapolation generates short-horizon momentum and long-horizon reversal patterns consistent with empirical evidence. Our results establish measurement ranges, calibration functions, and explicit boundaries for eight canonical behavioral biases.
Calibrating Large Language Models Using Their Generations Only
Parameter Lab(参数实验室);IT University of Copenhagen(哥本哈根信息技术大学);Pioneer Centre for Artificial Intelligence(人工智能先锋中心);NAVER AI Lab(NAVER人工智能实验室);University of Tübingen(蒂宾根大学);Tübingen AI Center(蒂宾根人工智能中心)
Risk Awareness Injection: Calibrating Vision-Language Models for Safety without Compromising Utility
Shien-Ming Wu School of Intelligent Engineering, South China University of Technology(华南理工大学吴贤铭智能工程学院);Guangdong Laboratory of Artificial Intelligence and Digital Economy (SZ)(广东省人工智能与数字经济实验室(深圳));Computer Science and Engineering, The Hong Kong University of Science and Technology(香港科技大学计算机科学与工程系);University of Electronic Science and Technology of China(电子科技大学)
Behavioral Intelligence Platforms: From Event Streams to Autonomous Insight via Probabilistic Journey Graphs, Behavioral Knowledge Extraction, and Grounded Language Generation
Calibrating Pre-trained Language Classifiers on LLM-generated Noisy Labels via Iterative Refinement
School of Computational Science \& Engineering Georgia Institute of Technology Atlanta GA USA;Scheller College of Business Georgia Institute of Technology Atlanta GA USA;Georgia Institute of Technology
Experience-Sensitive Game Learning: A Behavioral Study of Humans and Language Agents
The Chinese University of Hong Kong, Shenzhen(香港中文大学(深圳));Georgetown University(乔治城大学);INSAIT, Sofia University “St. Kliment Ohridski”(索菲亚大学“圣·克利门特·奥赫里德斯基”分校INSAIT)
Mitigating Behavioral Hallucination in Multimodal Large Language Models for Sequential Images
Provable Responsible AI and Data Analytics (PRADA) Lab(可证明负责任的人工智能与数据分析实验室);King Abdullah University of Science and Technology(国王阿卜杜勒阿齐兹大学);University of Electronic Science and Technology of China(中国电子科学技术大学);University of Copenhagen(哥本哈根大学)
Reproducing human biases in route choice using large language models: Toward scalable behavioral modeling
Laboratory of Computation and Analytics of Complex Management Systems (CACMS), Tianjin University, China(复杂管理系统的计算与分析实验室,天津大学,中国);College of Management and Economics, Tianjin University, China(管理与经济学院,天津大学,中国);Faculty of Science and Engineering, University of Nottingham Ningbo China(科学与工程学院,诺丁汉大学宁波校区,中国)
Structured Cognitive Loop for Behavioral Intelligence in Large Language Model Agents (Extended Revision: From Behavioral Architecture to Epistemic Accountability)
Auditing Framing-Sensitive Behavioral Instability in Large Language Models for Mental Health Interactions
a School of computer science, digital engineering and AI, Long Island University, Brooklyn, NY, USA(a 计算科学与数字工程及人工智能学院,罗格斯大学,布鲁克林,纽约,美国);b Department of Psychology, Long Island University, Brooklyn, NY, USA(b 心理学系,罗格斯大学,布鲁克林,纽约,美国)
The A-R Behavioral Space: Execution-Level Profiling of Tool-Using Language Model Agents in Organizational Deployment
Cardiff School of Technologies, Cardiff Metropolitan University(卡迪夫技术学院,卡迪夫市政大学);School of Professional Studies, Clark University(专业研究学院,克拉克大学);Harvard Medical School, Harvard University(哈佛医学院,哈佛大学)