Wei Wang

Yijia Xiao, Edward Sun, Di Luo et al.

Significant progress has been made in automated problem-solving using societies of agents powered by large language models (LLMs). In finance, efforts have largely focused on single-agent systems handling specific tasks or multi-agent frameworks independently gathering data. However, the multi-agent systems' potential to replicate real-world trading firms' collaborative dynamics remains underexplored. TradingAgents proposes a novel stock trading framework inspired by trading firms, featuring LLM-powered agents in specialized roles such as fundamental analysts, sentiment analysts, technical analysts, and traders with varied risk profiles. The framework includes Bull and Bear researcher agents assessing market conditions, a risk management team monitoring exposure, and traders synthesizing insights from debates and historical data to make informed decisions. By simulating a dynamic, collaborative trading environment, this framework aims to improve trading performance. Detailed architecture and extensive experiments reveal its superiority over baseline models, with notable improvements in cumulative returns, Sharpe ratio, and maximum drawdown, highlighting the potential of multi-agent LLM frameworks in financial trading. TradingAgents is available at https://github.com/TauricResearch/TradingAgents.

Yi-Long Lu, Jiajun Song, Wei Wang

A central architectural question for both biological and artificial intelligence is whether judgment relies on specialized modules or a unified, domain-general resource. While the discovery of decodable neural representations for distinct concepts in Large Language Models (LLMs) has suggested a modular architecture, whether these representations are truly independent systems remains an open question. Here we provide evidence for a convergent architecture for evaluative judgment. Across a range of LLMs, we find that diverse evaluative judgments are computed along a dominant dimension, which we term the Valence-Assent Axis (VAA). This axis jointly encodes subjective valence ("what is good") and the model's assent to factual claims ("what is true"). Through direct interventions, we demonstrate this axis drives a critical mechanism, which is identified as the subordination of reasoning: the VAA functions as a control signal that steers the generative process to construct a rationale consistent with its evaluative state, even at the cost of factual accuracy. Our discovery offers a mechanistic account for response bias and hallucination, revealing how an architecture that promotes coherent judgment can systematically undermine faithful reasoning.