Jifei Liu

Jifei Liu, Zhi Chen, Yuanguang Zhong

Problem definition: Although large language models (LLMs) are increasingly integrated into business decision making, their potential to replicate and even amplify human cognitive biases cautions a significant, yet not well-understood, risk. This is particularly critical in high-stakes operational contexts like supply chain management. To address this, we investigate the decision-making patterns of leading LLMs using the canonical newsvendor problem in a dynamic setting, aiming to identify the nature and origins of their cognitive biases. Methodology/results: Through dynamic, multi-round experiments with GPT-4, GPT-4o, and LLaMA-8B, we tested for five established decision biases. We found that LLMs consistently replicated the classic ``Too Low/Too High'' ordering bias and significantly amplified other tendencies like demand-chasing behavior compared to human benchmarks. Our analysis uncovered a ``paradox of intelligence'': the more sophisticated GPT-4 demonstrated the greatest irrationality through overthinking, while the efficiency-optimized GPT-4o performed near-optimally. Because these biases persist even when optimal formulas are provided, we conclude they stem from architectural constraints rather than knowledge gaps. Managerial implications: First, managers should select models based on the specific task, as our results show that efficiency-optimized models can outperform more complex ones on certain optimization problems. Second, the significant amplification of bias by LLMs highlights the urgent need for robust human-in-the-loop oversight in high-stakes decisions to prevent costly errors. Third, our findings suggest that designing structured, rule-based prompts is a practical and effective strategy for managers to constrain models' heuristic tendencies and improve the reliability of AI-assisted decisions.

Enze Zhang, Jiaying Wang, Mengxi Xiao et al.

Large language models (LLMs) have substantially advanced machine translation (MT), yet their effectiveness in translating web novels remains unclear. Existing benchmarks rely on surface-level metrics that fail to capture the distinctive traits of this genre. To address these gaps, we introduce DITING, the first comprehensive evaluation framework for web novel translation, assessing narrative and cultural fidelity across six dimensions: idiom translation, lexical ambiguity, terminology localization, tense consistency, zero-pronoun resolution, and cultural safety, supported by over 18K expert-annotated Chinese-English sentence pairs. We further propose AgentEval, a reasoning-driven multi-agent evaluation framework that simulates expert deliberation to assess translation quality beyond lexical overlap, achieving the highest correlation with human judgments among seven tested automatic metrics. To enable metric comparison, we develop MetricAlign, a meta-evaluation dataset of 300 sentence pairs annotated with error labels and scalar quality scores. Comprehensive evaluation of fourteen open, closed, and commercial models reveals that Chinese-trained LLMs surpass larger foreign counterparts, and that DeepSeek-V3 delivers the most faithful and stylistically coherent translations. Our work establishes a new paradigm for exploring LLM-based web novel translation and provides public resources to advance future research.