The emergence of economic rationality of GPT

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As generative pre-trained transformer (GPT) and other large language models become more prevalent, their capabilities beyond language processing will be tested. This column examines GPT’s economic rationality through budgetary decisions in risk, time, sociability, and food preferences. GPT outperforms human subjects in rationality scores, while its preference parameters differ slightly from humans and show less heterogeneity. Rationality scores remain robust to randomness and demographics but are sensitive to contextual framing. These findings highlight GPT’s decision-making potential and the need for further investigation of its limitations.