Georgios Papadopoulos

From equations to prompts: integrating LLMs into a hybrid macroeconomic ABM

Agent-based models (ABMs) typically rely on equations to incorporate agents' decision-making, ranging from ad-hoc rules or simple heuristics to complex, theory- or data-driven approaches. Recent advances in large language models (LLMs) make it possible to represent economic decision-making through information-condition...