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When Experimental Economics Meets Large Language Models: Tactics with Evidence
Shu Wang, Zijun Yao, Shuhuai Zhang, Jianuo Gai, Tracy Xiao Liu, Songfa Zhong
https://arxiv.org/abs/2505.21371

When Experimental Economics Meets Large Language Models: Tactics with Evidence
Advancements in large language models (LLMs) have sparked a growing interest in measuring and understanding their behavior through experimental economics. However, there is still a lack of established guidelines for designing economic experiments for LLMs. By combining principles from experimental economics with insights from LLM research in artificial intelligence, we outline and discuss eight practical tactics for conducting experiments with LLMs. We further perform two sets of experiments to…