Predicting Field Experiments with Large Language Models

Yaoyu Chen, Yuheng Hu, Yingda Lu

Keywords: Large Language Models, Field Experiments

TL;DR: The proposed framework directly predicts outcomes of field experiments by LLMs in a fully automated way.

Abstract: Large language models (LLMs) have demonstrated unprecedented emergent capabilities, including content generation, translation, and simulation of human behavior. Field experiments, on the other hand, are widely employed in social studies to examine real-world human behavior through carefully designed manipulations and treatments. However, field experiments are known to be expensive and time consuming. Therefore, an interesting question is whether and how LLMs can be utilized for field experiments. In this paper, we propose and evaluate an automated LLM-based framework to predict the outcomes of a field experiment. Applying this framework to 276 experiments about a wide range of human behaviors drawn from renowned economics literature yields a prediction accuracy of 78\%. Moreover, we find that the distributions of the results are either bimodal or highly skewed. By investigating this abnormality further, we identify that field experiments related to complex social issues such as ethnicity, social norms, and ethical dilemmas can pose significant challenges to the prediction performance.

Submission Number: 16