3 papers
econ.GN2026
Decision Models as Scalable Economic Surrogates that Capture Human Variation
Maxime Saxena, Fabio Caccioli, R. Maria del Rio-Chanona
Decision Models (DMs), a new class of AI models, give fast responses and return a probability distribution over a fixed set of options. These properties make them candidate human s…
q-fin.TR2026
Machine Spirits: Speculation and Adaptation of LLM Agents in Asset Markets
Maxime Saxena, Marco Pangallo, Cars Hommes +2
As Large Language Models (LLMs) become increasingly integrated into financial systems, understanding their behavioural properties is crucial. Do LLMs conform to the rational expect…
physics.soc-ph2025
Understanding Financial Contagion: A Complexity Modeling Perspective
Fabio Caccioli
This chapter reviews key contributions of complexity science to the study of systemic risk in financial systems. The focus is on network models of financial contagion, where I expl…