LLMs can be profile-calibrated to exhibit human-like behavioral parameters including loss aversion, herding, and extrapolation, enabling agent-based models to generate momentum and reversal patterns consistent with empirical asset pricing evidence.
Individual risk attitudes: Measurement, determinants, and behavioral consequences.Journal of the European Economic Association, 9(3):522–550, 2011
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Calibrating Behavioral Parameters with Large Language Models
LLMs can be profile-calibrated to exhibit human-like behavioral parameters including loss aversion, herding, and extrapolation, enabling agent-based models to generate momentum and reversal patterns consistent with empirical asset pricing evidence.