@inproceedings{wang-etal-2025-investalign,
    title = "{I}nvest{A}lign: Overcoming Data Scarcity in Aligning Large Language Models with Investor Decision-Making Processes Under Herd Behavior",
    author = "Wang, Huisheng  and
      Pan, Zhuoshi  and
      Zhang, Hangjing  and
      Liu, Mingxiao  and
      Gao, Hanqing  and
      Zhao, H. Vicky",
    editor = "Che, Wanxiang  and
      Nabende, Joyce  and
      Shutova, Ekaterina  and
      Pilehvar, Mohammad Taher",
    booktitle = "Proceedings of the 63rd Annual Meeting of the Association for Computational Linguistics (Volume 1: Long Papers)",
    month = jul,
    year = "2025",
    address = "Vienna, Austria",
    publisher = "Association for Computational Linguistics",
    url = "https://preview.aclanthology.org/ingestion-acl-25/2025.acl-long.495/",
    pages = "10021--10052",
    ISBN = "979-8-89176-251-0",
    abstract = "Aligning Large Language Models (LLMs) with investor decision-making processes under herd behavior is a critical challenge in behavioral finance, which grapples with a fundamental limitation: the scarcity of real-user data needed for Supervised Fine-Tuning (SFT). While SFT can bridge the gap between LLM outputs and human behavioral patterns, its reliance on massive authentic data imposes substantial collection costs and privacy risks. We propose **InvestAlign**, a novel framework that constructs high-quality SFT datasets by leveraging theoretical solutions to similar and simple optimal investment problems rather than the complex scenarios. Our theoretical analysis demonstrates that training LLMs with **InvestAlign**-generated data achieves faster parameter convergence than using real-user data, suggesting superior learning efficiency. Furthermore, we develop **InvestAgent**, an LLM agent fine-tuned with **InvestAlign**, which shows significantly closer alignment to real-user data than pre-SFT models in both simple and complex investment problems. This highlights our proposed **InvestAlign** as a promising approach with the potential to address complex optimal investment problems and align LLMs with investor decision-making processes under herd behavior. Our code is publicly available at https://github.com/thu-social-network-research-group/InvestAlign."
}