HouseholdBench: Evaluating Large Language Models as Predictors of Household Economic Behavior

Excerpt

arXiv:2610.07563v1 Announce Type: new Abstract: Large language models (LLMs) have the potential to meet a key goal in economics: a quantitative model of household decision making, across a variety of settings. Yet existing evaluations cover few surveys and outcomes, and do not study how households adjust to changing economic conditions. We introduce a new evaluation, HouseholdBench, which unites 6 U.S. household surveys and 32 prediction tasks spanning numeric, categorical and probabilistic outc