Can GPT-4 Sway Experts’ Investment Decisions?

Takehiro Takayanagi, Hiroya Takamura, Kiyoshi Izumi, Chung-Chi Chen


Abstract
In the post-Turing era, evaluating large language models (LLMs) involves assessing generated text based on readers’ decisions rather than merely its indistinguishability from human-produced content. This paper explores how LLM-generated text impacts readers’ decisions, focusing on both amateur and expert audiences. Our findings indicate that GPT-4 can generate persuasive analyses affecting the decisions of both amateurs and professionals. Furthermore, we evaluate the generated text from the aspects of grammar, convincingness, logical coherence, and usefulness. The results highlight a high correlation between real-world evaluation through audience decisions and the current multi-dimensional evaluators commonly used for generative models. Overall, this paper shows the potential and risk of using generated text to sway human decisions and also points out a new direction for evaluating generated text, i.e., leveraging the decisions of readers. We release our dataset to assist future research.
Anthology ID:
2025.findings-naacl.22
Volume:
Findings of the Association for Computational Linguistics: NAACL 2025
Month:
April
Year:
2025
Address:
Albuquerque, New Mexico
Editors:
Luis Chiruzzo, Alan Ritter, Lu Wang
Venue:
Findings
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Publisher:
Association for Computational Linguistics
Note:
Pages:
374–383
Language:
URL:
https://preview.aclanthology.org/fix-sig-urls/2025.findings-naacl.22/
DOI:
Bibkey:
Cite (ACL):
Takehiro Takayanagi, Hiroya Takamura, Kiyoshi Izumi, and Chung-Chi Chen. 2025. Can GPT-4 Sway Experts’ Investment Decisions?. In Findings of the Association for Computational Linguistics: NAACL 2025, pages 374–383, Albuquerque, New Mexico. Association for Computational Linguistics.
Cite (Informal):
Can GPT-4 Sway Experts’ Investment Decisions? (Takayanagi et al., Findings 2025)
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PDF:
https://preview.aclanthology.org/fix-sig-urls/2025.findings-naacl.22.pdf