Qi Zhao

Hao Yang, Qianghua Zhao, Lei Li

Chain-of-Thought prompting has significantly enhanced the reasoning capabilities of large language models, with numerous studies exploring factors influencing its performance. However, the underlying mechanisms remain poorly understood. To further demystify the operational principles, this work examines three key aspects: decoding, projection, and activation, aiming to elucidate the changes that occur within models when employing Chainof-Thought. Our findings reveal that LLMs effectively imitate exemplar formats while integrating them with their understanding of the question, exhibiting fluctuations in token logits during generation but ultimately producing a more concentrated logits distribution, and activating a broader set of neurons in the final layers, indicating more extensive knowledge retrieval compared to standard prompts. Our code and data will be publicly avialable when the paper is accepted.

Yihang Chen, Haikang Deng, Kaiqiao Han et al.

Chain-of-Thought (CoT) reasoning enhances large language models (LLMs) by decomposing complex problems into step-by-step solutions, improving performance on reasoning tasks. However, current CoT disclosure policies vary widely across different models in frontend visibility, API access, and pricing strategies, lacking a unified policy framework. This paper analyzes the dual-edged implications of full CoT disclosure: while it empowers small-model distillation, fosters trust, and enables error diagnosis, it also risks violating intellectual property, enabling misuse, and incurring operational costs. We propose a tiered-access policy framework that balances transparency, accountability, and security by tailoring CoT availability to academic, business, and general users through ethical licensing, structured reasoning outputs, and cross-tier safeguards. By harmonizing accessibility with ethical and operational considerations, this framework aims to advance responsible AI deployment while mitigating risks of misuse or misinterpretation.

Qi Zhao

This paper presents a deep learning framework based on Long Short-term Memory Network(LSTM) that predicts price movement of cryptocurrencies from trade-by-trade data. The main focus of this study is on predicting short-term price changes in a fixed time horizon from a looking back period. By carefully designing features and detailed searching for best hyper-parameters, the model is trained to achieve high performance on nearly a year of trade-by-trade data. The optimal model delivers stable high performance(over 60% accuracy) on out-of-sample test periods. In a realistic trading simulation setting, the prediction made by the model could be easily monetized. Moreover, this study shows that the LSTM model could extract universal features from trade-by-trade data, as the learned parameters well maintain their high performance on other cryptocurrency instruments that were not included in training data. This study exceeds existing researches in term of the scale and precision of data used, as well as the high prediction accuracy achieved.