Thomas Jacquot

h-index1
2papers
4citations

2 Papers

2.7CLAug 26, 2024
Examining Independence in Ensemble Sentiment Analysis: A Study on the Limits of Large Language Models Using the Condorcet Jury Theorem

Baptiste Lefort, Eric Benhamou, Jean-Jacques Ohana et al.

This paper explores the application of the Condorcet Jury theorem to the domain of sentiment analysis, specifically examining the performance of various large language models (LLMs) compared to simpler natural language processing (NLP) models. The theorem posits that a majority vote classifier should enhance predictive accuracy, provided that individual classifiers' decisions are independent. Our empirical study tests this theoretical framework by implementing a majority vote mechanism across different models, including advanced LLMs such as ChatGPT 4. Contrary to expectations, the results reveal only marginal improvements in performance when incorporating larger models, suggesting a lack of independence among them. This finding aligns with the hypothesis that despite their complexity, LLMs do not significantly outperform simpler models in reasoning tasks within sentiment analysis, showing the practical limits of model independence in the context of advanced NLP tasks.

3.3AIJul 17, 2025
Re-evaluating Short- and Long-Term Trend Factors in CTA Replication: A Bayesian Graphical Approach

Eric Benhamou, Jean-Jacques Ohana, Alban Etienne et al.

Commodity Trading Advisors (CTAs) have historically relied on trend-following rules that operate on vastly different horizons from long-term breakouts that capture major directional moves to short-term momentum signals that thrive in fast-moving markets. Despite a large body of work on trend following, the relative merits and interactions of short-versus long-term trend systems remain controversial. This paper adds to the debate by (i) dynamically decomposing CTA returns into short-term trend, long-term trend and market beta factors using a Bayesian graphical model, and (ii) showing how the blend of horizons shapes the strategy's risk-adjusted performance.