Large Language Models as Simulated Economic Agents: What Can We Learn from Homo Silicus?

Horton, John, Filippas, Apostolos, Manning, Benjamin·2023·National Bureau of Economic Research
DOI 10.3386/w31122

Cited by (326)

Items 101–200 of 326

  1. Simulating social perception with large language models: perceptions of China’s common prosperity
    Zhuoren Jiang, Biao Huang, Jin Ge, Chenxi Lin, Yueqian Xu, Jianxing Yu · 2025 · Journal of Chinese Governance
  2. Artificial Intelligence–Powered (Finance) Scholarship
    Robert Novy‐Marx, Mihail Velikov · 2026 · Journal of Economic Literature
  3. Large Language Models for Market Research: A Data-augmentation Approach
    Mengxin Wang, Dennis Zhang, Heng Zhang · 2025 · SSRN Electronic Journal
  4. Judgments of learning distinguish humans from large language models in predicting memory
    Huff, Markus, Ulakci, Elanur · 2025 · Scientific Reports
  5. Simulating Social Behavior of LLM-Based Autonomous Negotiator Agents in a Game-Theoretical Framework Using Multi-Agent Systems
    Ahmad Mouri Zadeh Khaki, Ahyoung Choi, Laleh Seyyed-Kalantari · 2025 · International Journal of Human-Computer Interaction
  6. Unleashing the Potential of Large Language Models in Urban Data Analytics: A Review of Emerging Innovations and Future Research
    Feifeng Jiang, Jun Ma, Yuping Jin · 2025 · Smart Cities
  7. Interviewing AI: Using qualitative methods to explore and capture machines’ characteristics and behaviors
    Mohammad Hossein Jarrahi · 2025 · Big Data & Society
  8. Large Language Models for Market Research: A Data-Augmentation Approach
    Mengxin Wang, Dennis Zhang, Heng Zhang · 2026 · Marketing Science
  9. Revolutionizing Marketing Research with a Large Language Model: A Hybrid AI-Human Approach
    Neeraj K. Arora, Ishita Chakraborty, Yohei Nishimura · 2024 · SSRN Electronic Journal
  10. Examining the Feasibility of Large Language Models as Survey Respondents
    Ayato Kitadai, Kazuhito Ogawa, Nariaki Nishino · 2024 · IEEE International Conference on Big Data (BigData)
  11. Human Subjects Research in the Age of Generative AI: Opportunities and Challenges of Applying LLM-Simulated Data to HCI Studies
    Angel Hsing‐Chi Hwang, Michael S. Bernstein, S. Shyam Sundar, Renwen Zhang, Manoel Horta Ribeiro, Yingdan Lu, Serina Y. Chang, Tongshuang Wu, Aimei Yang, Dmitri C. Williams et al. · 2025 · CHI Conference Extended Abstracts on Human Factors in Computing Systems (CHI EA)
  12. SimSpark: Interactive Simulation of Social Media Behaviors
    Ziyue Lin, Yi Shan, Lin Gao, Xinghua Jia, Siming Chen · 2025 · Proceedings of the ACM on Human-Computer Interaction
  13. Using large language models to categorize strategic situations and decipher motivations behind human behaviors
    Yutong Xie, Qiaozhu Mei, Walter Yuan, Matthew O. Jackson · 2025 · Proceedings of the National Academy of Sciences
  14. The Impostor is Among Us: Can Large Language Models Capture the Complexity of Human Personas?
    Christopher Klaus Lazik, Christopher Katins, Charlotte Kauter, Jonas Jakob, Caroline Jay, Lars Grunske, Thomas Kosch · 2025 · Mensch und Computer (MuC)
  15. The Good, the Bad, and the Uncanny: Investigating Diversity Aspects of LLM-Generated Personas for Requirements Engineering
    Christopher Klaus Lazik, Charlotte Kauter, Inês Nunes, Aaron Ziglowski, Alina Pryma, Christopher Katins, Lars Grunske, Thomas Kosch · 2025 · IEEE International Requirements Engineering Conference (RE)
  16. Multimodal large language models can make context-sensitive hate speech evaluations aligned with human judgement
    Thomas Davidson · 2025 · Nature Human Behaviour
  17. Large Language Models as Psychological Simulators: A Methodological Guide
    Zhicheng Lin · 2026 · Advances in Methods and Practices in Psychological Science
  18. AI’s predictable memory in financial analysis
    Antoine Didisheim, Martina Fraschini, Luciano Somoza · 2025 · Economics Letters
  19. The Integration of Explanation and Prediction in Behavioral Science
    Abdullah Almaatouq, Robin Wooyeong Na · 2026 · Current Directions in Psychological Science
  20. Can Base ChatGPT be Used for Forecasting without Additional Optimization?
    Van H. Pham, Scott Cunningham · 2024 · SSRN Electronic Journal
  21. How do Generative Language Models Answer Opinion Polls?
    Julien Boelaert, Samuel Coavoux, Étienne Ollion, Ivaylo D. Petev, Patrick Präg · 2024
  22. How Ethical Should AI Be? How AI Alignment Shapes the Risk Preferences of LLMs
    Shumiao Ouyang, Hayong Yun, Xingjian Zheng · 2024 · SSRN Electronic Journal
  23. Consumer Law for AI Agents
    Busch, Christoph · 2025 · German Law Journal
  24. From helping hand to stumbling block: the ChatGPT paradox in competency experiment
    Duk Gyoo Kim, Ahram Moon · 2024 · Applied Economics Letters
  25. Arti-‘fickle’ intelligence: using LLMs as a tool for inference in the political and social sciences
    Lisa P. Argyle, Ethan Craig Busby, Joshua R. Gubler, Bryce Hepner, Alex Lyman, David Wingate · 2025 · Nature Computational Science
  26. LMAgent: A Large-Scale Multimodal Agents Society for Multi-User Simulation
    Yijun Liu, Wu Jun Liu, Xiaoyan Gu, Xiaodong He, Yong Rui, Yongdong Zhang · 2026 · IEEE Transactions on Multimedia
  27. The silicon service spectrum: warmth and competence explain people's preferences for AI assistants
    Ivan Alfonso Hernandez, Amal Chekili · 2024 · Frontiers in Social Psychology
  28. Assessing Large Language Models’ ability to predict how humans balance self-interest and the interest of others
    Valerio Capraro, Roberto Di Paolo, Veronica Pizziol · 2023
  29. Generative ai and sociology: analyzing virtual respondent technology
    Z.V. Puzanova, George G. Koshoridze, David G. Koshoridze · 2025 · Sociology methodology methods mathematical modeling (Sociology 4M)
  30. Financial Stability Implications of Generative AI: Taming the Animal Spirits
    Anne Lundgaard Hansen, Seung Jung Lee · 2025 · Finance and Economics Discussion Series
  31. Unleashing generative AI: funding implications and insights from China
    Jiwei Qian · 2024 · Journal of Asian Public Policy
  32. Leveraging Large Language Models as Simulated Users for Initial, Low-Cost Evaluations of Designed Conversations
    Jan de Wit · 2024 · Lecture notes in computer science
  33. Evidence-based policy or beauty contest? An LLM-based meta-analysis of EU cohesion policy evaluations
    Zareh Asatryan, Carlo Birkholz, Friedrich Heinemann · 2024 · International Tax and Public Finance
  34. Climate Change, Intergenerational Fairness, and the Promises and Pitfalls of Artificial Intelligence
    Oliver Hauser · 2025 · Environmental and Resource Economics
  35. A publicly available benchmark for assessing large language models’ ability to predict how humans balance self-interest and the interest of others
    Valerio Capraro, Roberto Di Paolo, Veronica Pizziol · 2025 · Scientific Reports
  36. Leveraging LLMs for predictive insights in food policy and behavioral interventions
    Micha Kaiser, Paul Marvin Lohmann, Peter Ochieng, Billy Shi, Cass Robert Sunstein, Lucia A. Reisch · 2025 · Discover Food
  37. Generation Next: Experimentation with AI
    Gary B. Charness, Brian Jabarian, John A. List · 2023 · SSRN Electronic Journal
  38. Can Advanced LLMs Coach Smaller LLMs? Knowledge Distillation for Goal-Oriented Dialogs
    Tong Wang, K. Sudhir, Dat Hong · 2024 · SSRN Electronic Journal
  39. The Devil Is in the Tail: Macroeconomic Tail Risk Expectations of Firms
    Manuel Menkhoff · 2026 · CESifo
  40. Investing in Data Quality for High-Impact Entrepreneurship Research
    MARKKU V. J. MAULA, Tomasz Marek Mickiewicz, Silvio Vismara A, Johan Wiklund · 2026 · Entrepreneurship Theory and Practice
  41. Adaptive Information Modulation: Designing Governance Mechanisms for Multi-Agent Artificial Intelligence Systems
    Chen, Qiliang, Ilami, Sepehr, Lore, Nunzio, Heydari, Babak · 2026 · Journal of Mechanical Design
  42. LEMSS: LLM-Based Platform for Multi-Agent Competitive Search Simulation
    Tommy Mordo, Tomer Kordonsky, Haya Nachimovsky, Moshe Tennenholtz, Oren Kurland · 2025 · International ACM SIGIR Conference on Research and Development in Information Retrieval (SIGIR)
  43. Measuring Emotion Perception Ability Using AI-Generated Stimuli: Development and Validation of the PAGE Test
    Ben Weidmann, Yixian Xu · 2025 · Journal of Intelligence
  44. The ghost of behaviorism: critical reflections on methodological limitations in the research of large language models psychology
    Zewei Li, Yijin Wang, Qi Wu · 2026 · Cognitive Systems Research
  45. SUVA: A Probabilistic Framework for Auditing LLMs with an Application to Social Preferences
    Yan Leng, Yuan Yuan · 2026 · Information Systems Research
  46. Co-Designing Collaborative Generative AI Tools for Freelancers
    Kashif Imteyaz, Michael J. Muller, Claudia Flores-Saviaga, Saiph Savage · 2026 · CHI Conference on Human Factors in Computing Systems
  47. Ethical Considerations for Generative AI in Social Science Research
    B. Anthony Brown, Keri L. Heitner · 2024 · Advances in computational intelligence and robotics book series
  48. Social Intelligence Enhancement Methods for LLM Agents Based on Retrieval-Augmented Generation
    Zhicheng Zhang, Wu Yang, Xiaolong Zheng · 2024 · China Automation Congress (CAC)
  49. Artificial intelligence and dichotomania
    Blakeley B. McShane, David Gal, Adam Duhachek · 2025 · Judgment and Decision Making
  50. Strategizing with AI: Insights from a beauty contest experiment
    Iuliia Alekseenko, Dmitry Dagaev, Sofia N. Paklina, Петр Андреевич Паршаков · 2025 · Journal of Economic Behavior & Organization
  51. Road Rage Against the Machine: Humans and LLMs Share a Blame Bias Against Driverless Cars
    Yueying Chu, Peng Liu, Julian Savulescu, Brian David Earp · 2025 · International Journal of Human-Computer Interaction
  52. How Generative AI Impacts Content Engagement: Evidence from an Online Learning Platform
    Unnati Narang, Carl-Philip Ahlbom, Shrabastee Banerjee · 2023 · SSRN Electronic Journal
  53. Simulating Survey Respondents with Large Language Models through Impulse Variables and Persona Conditioning
    Fabio Yoshio Suguri Motoki, Januário José Monteiro, Ricardo Malagueño, Victor Rangel dos Santos Rodrigues · 2023 · SSRN Electronic Journal
  54. Folk Economics in the Machine: LLMs and the Emergence of Mental Accounting
    Yan Leng · 2024 · SSRN Electronic Journal
  55. Frontiers: Reducing Disparity Between LLMs and Humans: Optimal LLM Sample Calibration
    Yan Leng, Yunxin Sang, Ashish Agarwal · 2026 · Marketing Science
  56. Using Large Language Models to Explore Contextualization Effects in Economics-Based Accounting Experiments
    Fikir Worku Edossa, Joachim Gassen, Victor S. Maas · 2024 · SSRN Electronic Journal
  57. Chat Bankman-Fried: an Exploration of LLM Alignment in Finance
    Claudia Biancotti, Carolina Camassa, Oliver Giudice, Aldo Glielmo, Andrea Coletta · 2024 · SSRN Electronic Journal
  58. ChatGPT Hallucinates Nonexistent Citations: Evidence from Economics
    Buchanan, Joy, Hill, Stephen, Shapoval, Olga · 2023
  59. Optimizing Conversational Commerce Involving Multilingual Consumers Through Large Language Models’ Natural Language Understanding Abilities
    Joseph Benjamin Ilagan, Jose Ramon Ilagan, Pia Ysabel Zulueta, Ma. Mercedes T. Rodrigo · 2024 · Lecture notes in computer science
  60. Comparing perceptual judgments in large multimodal models and humans
    Billy Dickson, Sahaj Singh Maini, Craig A. Sanders, Robert M. Nosofsky, Zoran Tiganj · 2025 · Behavior Research Methods
  61. Game-theory behaviour of large language models: The case of Keynesian beauty contests
    Siting Estee Lu · 2025 · Economics and Business Review/The Poznań University of Economics Review
  62. From Mobile Media to Generative AI: The Evolutionary Logic of Computational Social Science Across Data, Methods, and Theory
    Hua Li, Qifang Wang, Ye Wu · 2025 · Mathematics
  63. LLMs May Not Be Human-Level Players, But They Can Be Testers: Measuring Game Difficulty with LLM Agents
    Chang Xiao, Zixiaofan Yang · 2025 · Proceedings of the ACM on Human-Computer Interaction
  64. Evaluating LLMs for Synthetic Personas Generation: A Comparative Analysis of Personality Representation and Censorship Effects
    Luigi Casoria, Pietro Neroni, Luca Sabatucci, Agnese Augello, Giuseppe Caggianese · 2025 · Biannual Conference of the Italian SIGCHI Chapter (CHItaly)
  65. The silenced voice: A hermeneutic phenomenological exploration of the lived experience of senior high school students who stutter during instruction in Ghana
    Clarke Ebow Yalley, Mohammed Adam, Vida Amankwaah Kumah, Samuel Poatob · 2025 · African Identities
  66. Prompting for Policy: Forecasting Macroeconomic Scenarios with Synthetic LLM Personas
    Giulia Iadisernia, Carolina Camassa · 2025 · ACM International Conference on AI in Finance (ICAIF)
  67. Write, Rank, or Rate: Comparing Methods for Studying Visualization Affordances
    Chase Stokes, Kylie Lin, Cindy Xiong · 2025 · IEEE Transactions on Visualization and Computer Graphics
  68. LLMs are not weird: Comparing AI and human financial decision-making
    Orhan Erdem, Ragavi Pobbathi Ashok · 2025 · Journal of Behavioral and Experimental Economics
  69. Strategic Tradeoffs Between Humans and AI in Multi-Agent Bargaining
    Crystal Qian, Kehang Zhu, John Joseph Horton, Benjamin S. Manning, Vivian Tsai, James Wexler, Nithum Thain · 2026 · ACM International Conference on Intelligent User Interfaces (IUI)
  70. On using large language models to support social research for climate action
    Ehsan Nabavi, Holger Robert Maier, Saman Razavi, Adrian Hindes, Mark S. Howden, Will J. Grant, Sujatha Raman · 2026 · npj Climate Action
  71. LLM-Powered Multi-Agent Systems: A Survey of Collaboration and Learning Strategies
    Sahar Yarmohammadtoosky, Ying Xie · 2026 · International Conference on Artificial Intelligence, Digital Media Technology and Social Computing (ICAIDS)
  72. Agent-Based modeling in financial markets: Modeling frameworks, validation challenges, and emerging applications
    Hanool Choi, Sunghee Choi · 2026 · Networks and Heterogeneous Media
  73. Leveraging large language models as synthetic experts: A methodology and validation framework for pavement performance assessment
    Ali Issa Fares, Jiangbo Yu, Ridwan Taiwo, Nour Faris, Tarek M. Zayed, Luis Miranda-Moreno · 2026 · Results in Engineering
  74. Could large language models estimate valence of words? A small ablation study
    Frederico Caetano Jandre, Gabriel Ribeiro, João Vitor Silva · 2023 · Congresso Brasileiro de Inteligência Computacional (CBIC)
  75. Gpt-3.5 Hallucinates Nonexistent Citations: Evidence from Economics
    Joy A. Buchanan, Olga Shapoval · 2023 · SSRN Electronic Journal
  76. Do Ais Dream of Homo Economicus? Answers from Chatgpt
    Toshihiro Tsuchihashi · 2023 · SSRN Electronic Journal
  77. Do AIs Dream of Homo Economicus? Answers from ChatGPT
    Toshihiro Tsuchihashi · 2023 · SSRN Electronic Journal
  78. Humanity Amplified: The Fusion of Deep Learning and Human Insight to Shape the Future of Innovation
    Stefan Bauschard, Sabba Quidwai · 2023 · SSRN Electronic Journal
  79. Evaluating Large Language Models in Psychological Research: A Guide for Reviewers
    Suhaib Abdurahman, Alireza S. Ziabari, Alexander Kentaro Moore, Daniel M. Bartels, Morteza Dehghani · 2024
  80. Can Base Chatgpt Be Used for Forecasting Without Additional Optimization?
    Van H. Pham, Scott Cunningham · 2024 · SSRN Electronic Journal
  81. The Mixed Subjects Design: Treating Large Language Models as Potentially Informative Observations
    David Broska, Michael Howes, Austin van Loon · 2024
  82. The Moltbook Illusion: Separating Human Influence from Emergent Behavior in AI Agent Societies
    Li, Ning · 2026 · arXiv
  83. How Well Do Simulated Population Samples with GPT-4 Align with Real Ones? The Case of the Eysenck Personality Questionnaire Revised-Abbreviated Personality Test
    Gregorio Ferreira, Jacopo Amidei, Rubén Nieto, Andreas Kaltenbrunner · 2025 · Health Data Science
  84. Relative Value Encoding in Large Language Models: A Multi-Task, Multi-Model Investigation
    William M. Hayes, Nicolas Yax, Stefano Palminteri · 2025 · Open Mind
  85. Towards Effective Discrimination Testing for Generative AI
    Thomas P. Zollo, Nikita Rajaneesh, Richard S. Zemel, Talia B. Gillis, Emily Black · 2025 · ACM Conference on Fairness, Accountability, and Transparency (FAccT)
  86. How do individuals interact with an AI advisor in strategic reasoning? An experimental study in beauty contest
    Daniela Teresa Di Cagno, Lihui Lin · 2025 · Journal of Economic Behavior & Organization
  87. Human–AI social cooperation: convergences, divergences, and challenges
    Suchen Yao, Ji Shan, Li Hu, Xuejing lu · 2025 · Chinese Science Bulletin (Chinese Version)
  88. Human Choice Prediction in Language-based Persuasion Games: Simulation-based Off-Policy Evaluation
    Eilam Shapira, Omer Madmon, Reut Apel, Moshe Tennenholtz, Roi Reichart · 2025 · Transactions of the Association for Computational Linguistics
  89. Language as Data: A Survey of Natural Language Processing for Economics and Finance
    Alexandre Henrique Lucchetti, Daniel O. Cajueiro · 2025 · Journal of Economic Surveys
  90. Can large language models mimic airline passenger preferences?
    Augusto Voltes-Dorta, Pere Suau-Sánchez · 2025 · Artificial Intelligence for Transportation
  91. Cross-Linguistic Moral Preferences in Large Language Models: Evidence from Distributive Justice Scenarios and Domain Persona Interventions
    Seongyu Jang, Chaewon Jeong, Jimin Kim, Hyungu Kahng · 2025 · Electronics
  92. A Comparative Study on Large Language Models with an Overview of Their Issues and Challenges
    Aman Kumar, Manu Sood · 2026 · Lecture notes in electrical engineering
  93. Words Matter
    Milan Kořínek, Kamila Štekerová · 2026 · Journal of Cases on Information Technology
  94. SAFE AI Agentic System
    Golnoosh Babaei, Paolo Giudici, Alessandro Piergallini, Rasha Zieni · 2026 · Communications in computer and information science
  95. New parameters of power: On LLM-based manipulation and control and the spectre of strategic AI
    Yaqub Chaudhary, Jonnie Penn · 2026 · Big Data & Society
  96. Agent A/B: Automated and Scalable A/B Testing on Live Websites with Interactive LLM Agents
    Yuxuan Lu, Ting-Yao Hsu, Hansu Gu, Limeng Cui, Yaochen Xie, William P. Headden, Bingsheng Yao, Akash Veeragouni, Jiapeng Liu, Sreyashi Nag et al. · 2026 · CHI Conference Extended Abstracts on Human Factors in Computing Systems (CHI EA)
  97. AI as a Tool to Support Negotiation Research
    Ray Friedman · 2026 · Negotiation Journal
  98. Integrating AI and aesthetic technologies for business innovation: the convergent knowledge innovation model
    Giovanni Schiuma, Mary Kate Naatus, Katia Passerini · 2026 · European Journal of Innovation Management
  99. Prompt carefully! ChatGPT displays rule-based insensitivity to contingencies
    Francisco J. Ruiz, Verónica Cardona-Betancourt · 2026 · Journal of Contextual Behavioral Science
  100. Decision science in the agentic era: Research frontiers on agentic AI and human–agent collaboration
    Yingjie Zhang, Tian-Shu Sun · 2026 · Decision Sciences