This paper investigates the impact of the adoption of generative AI on financial stability. We conduct laboratory-style experiments using large language models to replicate classic studies on herd behavior in trading decisions. Our results show that AI agents make more rational decisions than humans, relying predominantly on private information over market trends. Increased reliance on AI-powered trading advice could therefore potentially lead to fewer asset price bubbles arising from animal spirits that trade by following the herd. However, exploring variations in the experimental settings reveals that AI agents can be induced to herd optimally when explicitly guided to make profit-maximizing decisions. While optimal herding improves market discipline, this behavior still carries potential implications for financial stability. In other experimental variations, we show that AI agents are not purely algorithmic, but have inherited some elements of human conditioning and bias.

Control Barrier Functions (CBFs) are a powerful tool for ensuring the safety of autonomous systems, yet applying them to nonholonomic robots in cluttered, dynamic environments remains an open challenge. State-of-the-art methods often rely on collision-cone or velocity-obstacle constraints which, by only considering the angle of the relative velocity, are inherently conservative and can render the CBF-based quadratic program infeasible, particularly in dense scenarios. To address this issue, we propose a Dynamic Parabolic Control Barrier Function (DPCBF) that defines the safe set using a parabolic boundary. The parabola's vertex and curvature dynamically adapt based on both the distance to an obstacle and the magnitude of the relative velocity, creating a less restrictive safety constraint. We prove that the proposed DPCBF is valid for a kinematic bicycle model subject to input constraints. Extensive comparative simulations demonstrate that our DPCBF-based controller significantly enhances navigation success rates and QP feasibility compared to baseline methods. Our approach successfully navigates through dense environments with up to 100 dynamic obstacles, scenarios where collision cone-based methods fail due to infeasibility.

In a multi-follower Bayesian Stackelberg game, a leader plays a mixed strategy over $L$ actions to which $n\ge 1$ followers, each having one of $K$ possible private types, best respond. The leader's optimal strategy depends on the distribution of the followers' private types. We study an online learning version of this problem: a leader interacts for $T$ rounds with $n$ followers with types sampled from an unknown distribution every round. The leader's goal is to minimize regret, defined as the difference between the cumulative utility of the optimal strategy and that of the actually chosen strategies. We design learning algorithms for the leader under different feedback settings. Under type feedback, where the leader observes the followers' types after each round, we design algorithms that achieve $\mathcal O\big(\sqrt{\min\{L\log(nKA T), nK \} \cdot T} \big)$ regret for independent type distributions and $\mathcal O\big(\sqrt{\min\{L\log(nKA T), K^n \} \cdot T} \big)$ regret for general type distributions. Interestingly, those bounds do not grow with $n$ at a polynomial rate. Under action feedback, where the leader only observes the followers' actions, we design algorithms with $\mathcal O( \min\{\sqrt{ n^L K^L A^{2L} L T \log T}, K^n\sqrt{ T } \log T \} )$ regret. We also provide a lower bound of $Ω(\sqrt{\min\{L, nK\}T})$, almost matching the type-feedback upper bounds.

Recent works on context and memory benchmarking have primarily focused on conversational instances but the need for evaluating memory in dynamic enterprise environments is crucial for its effective application. We introduce MEMTRACK, a benchmark designed to evaluate long-term memory and state tracking in multi-platform agent environments. MEMTRACK models realistic organizational workflows by integrating asynchronous events across multiple communication and productivity platforms such as Slack, Linear and Git. Each benchmark instance provides a chronologically platform-interleaved timeline, with noisy, conflicting, cross-referring information as well as potential codebase/file-system comprehension and exploration. Consequently, our benchmark tests memory capabilities such as acquistion, selection and conflict resolution. We curate the MEMTRACK dataset through both manual expert driven design and scalable agent based synthesis, generating ecologically valid scenarios grounded in real world software development processes. We introduce pertinent metrics for Correctness, Efficiency, and Redundancy that capture the effectiveness of memory mechanisms beyond simple QA performance. Experiments across SoTA LLMs and memory backends reveal challenges in utilizing memory across long horizons, handling cross-platform dependencies, and resolving contradictions. Notably, the best performing GPT-5 model only achieves a 60\% Correctness score on MEMTRACK. This work provides an extensible framework for advancing evaluation research for memory-augmented agents, beyond existing focus on conversational setups, and sets the stage for multi-agent, multi-platform memory benchmarking in complex organizational settings

We present SimCity, a multi-agent framework that leverages LLMs to model an interpretable macroeconomic system with heterogeneous agents and rich interactions. Unlike classical equilibrium models that limit heterogeneity for tractability, or traditional agent-based models (ABMs) that rely on hand-crafted decision rules, SimCity enables flexible, adaptive behavior with transparent natural-language reasoning. Within SimCity, four core agent types (households, firms, a central bank, and a government) deliberate and participate in a frictional labor market, a heterogeneous goods market, and a financial market. Furthermore, a Vision-Language Model (VLM) determines the geographic placement of new firms and renders a mapped virtual city, allowing us to study both macroeconomic regularities and urban expansion dynamics within a unified environment. To evaluate the framework, we compile a checklist of canonical macroeconomic phenomena, including price elasticity of demand, Engel's Law, Okun's Law, the Phillips Curve, and the Beveridge Curve, and show that SimCity naturally reproduces these empirical patterns while remaining robust across simulation runs.

The rapid advancement of Large Language Models (LLMs) has opened new opportunities in data science, yet their practical deployment is often constrained by the challenge of discovering relevant data within large heterogeneous data lakes. Existing methods struggle with this: single-agent systems are quickly overwhelmed by large, heterogeneous files in the large data lakes, while multi-agent systems designed based on a master-slave paradigm depend on a rigid central controller for task allocation that requires precise knowledge of each sub-agent's capabilities. To address these limitations, we propose a novel multi-agent communication paradigm inspired by the blackboard architecture for traditional AI models. In this framework, a central agent posts requests to a shared blackboard, and autonomous subordinate agents -- either responsible for a partition of the data lake or general information retrieval -- volunteer to respond based on their capabilities. This design improves scalability and flexibility by eliminating the need for a central coordinator to have prior knowledge of all sub-agents' expertise. We evaluate our method on three benchmarks that require explicit data discovery: KramaBench and modified versions of DS-Bench and DA-Code to incorporate data discovery. Experimental results demonstrate that the blackboard architecture substantially outperforms baselines, including RAG and the master-slave multi-agent paradigm, achieving between 13% to 57% relative improvement in end-to-end task success and up to a 9% relative gain in F1 score for data discovery over the best-performing baselines across both proprietary and open-source LLMs. Our findings establish the blackboard paradigm as a scalable and generalizable communication framework for multi-agent systems.

While integrating tools like Code Interpreter and Search has significantly enhanced Large Language Model (LLM) reasoning in models like ChatGPT Agent and Gemini-Pro, practical guidance on optimal tool use is lacking. The core challenge is effectively combining textual reasoning, coding, and search for diverse questions. In this paper, we propose Tool-Use Mixture (TUMIX), an ensemble framework that runs multiple agents in parallel, each employing distinct tool-use strategies and answer paths. Agents in TUMIX iteratively share and refine responses based on the question and previous answers. In experiments, TUMIX achieves significant gains over state-of-the-art tool-augmented and test-time scaling methods, delivering an average accuracy improvement of up to 3.55% over the best baseline on Gemini-2.5-Pro and Gemini-2.5-Flash across key reasoning benchmarks, with near-equal inference costs. We find that agent diversity and quality are crucial and can be enhanced by using LLMs to auto-optimize agent designs. Furthermore, TUMIX can halt refinement upon reaching sufficient confidence, preserving performance at only 49% of the inference cost. Further scaling can achieve higher performance, albeit at a greater cost.

Accurate prediction of human behavior is essential for robust and safe human-AI collaboration. However, existing approaches for modeling people are often data-hungry and brittle because they either make unrealistic assumptions about rationality or are too computationally demanding to adapt rapidly. Our key insight is that many everyday social interactions may follow predictable patterns; efficient "scripts" that minimize cognitive load for actors and observers, e.g., "wait for the green light, then go." We propose modeling these routines as behavioral programs instantiated in computer code rather than policies conditioned on beliefs and desires. We introduce ROTE, a novel algorithm that leverages both large language models (LLMs) for synthesizing a hypothesis space of behavioral programs, and probabilistic inference for reasoning about uncertainty over that space. We test ROTE in a suite of gridworld tasks and a large-scale embodied household simulator. ROTE predicts human and AI behaviors from sparse observations, outperforming competitive baselines -- including behavior cloning and LLM-based methods -- by as much as 50% in terms of in-sample accuracy and out-of-sample generalization. By treating action understanding as a program synthesis problem, ROTE opens a path for AI systems to efficiently and effectively predict human behavior in the real-world.

Human mobility prediction is vital for urban services, but often fails to account for abrupt changes from external events. Existing spatiotemporal models struggle to leverage textual descriptions detailing these events. We propose SeMob, an LLM-powered semantic synthesis pipeline for dynamic mobility prediction. Specifically, SeMob employs a multi-agent framework where LLM-based agents automatically extract and reason about spatiotemporally related text from complex online texts. Fine-grained relevant contexts are then incorporated with spatiotemporal data through our proposed innovative progressive fusion architecture. The rich pre-trained event prior contributes enriched insights about event-driven prediction, and hence results in a more aligned forecasting model. Evaluated on a dataset constructed through our pipeline, SeMob achieves maximal reductions of 13.92% in MAE and 11.12% in RMSE compared to the spatiotemporal model. Notably, the framework exhibits pronounced superiority especially within spatiotemporal regions close to an event's location and time of occurrence.

Existing multi-agent learning approaches have developed interactive training environments to explicitly promote collaboration among multiple Large Language Models (LLMs), thereby constructing stronger multi-agent systems (MAS). However, during inference, they require re-executing the MAS to obtain final solutions, which diverges from human cognition that individuals can enhance their reasoning capabilities through interactions with others and resolve questions independently in the future. To investigate whether multi-agent interaction can enhance LLMs' independent problem-solving ability, we introduce ILR, a novel co-learning framework for MAS that integrates two key components: Dynamic Interaction and Perception Calibration. Specifically, Dynamic Interaction first adaptively selects either cooperative or competitive strategies depending on question difficulty and model ability. LLMs then exchange information through Idea3 (Idea Sharing, Idea Analysis, and Idea Fusion), an innovative interaction paradigm designed to mimic human discussion, before deriving their respective final answers. In Perception Calibration, ILR employs Group Relative Policy Optimization (GRPO) to train LLMs while integrating one LLM's reward distribution characteristics into another's reward function, thereby enhancing the cohesion of multi-agent interactions. We validate ILR on three LLMs across two model families of varying scales, evaluating performance on five mathematical benchmarks and one coding benchmark. Experimental results show that ILR consistently outperforms single-agent learning, yielding an improvement of up to 5% over the strongest baseline. We further discover that Idea3 can enhance the robustness of stronger LLMs during multi-agent inference, and dynamic interaction types can boost multi-agent learning compared to pure cooperative or competitive strategies.