pwc-archive/papers-with-abstracts huggingface dataset:
Bayesian methods for solving estimation and forecasting problems in the high-frequency trading environment
Authors: Paul Alexander Bilokon
Date: 2016-12-16 00:00:00
Proceeding: SSRN 2016 12
Tasks: Density Estimation, parameter estimation, Self-Driving Cars

We examine modern stochastic filtering and Markov chain Monte Carlo (MCMC) methods and consider their applications in finance, especially electronic trading.

Stochastic filtering methods have found many applications, from Space Shuttles to self-driving cars. We review some classical and modern algorithms and show how they can be used to estimate and forecast econometric models, stochastic volatility and term structure of risky bonds. We discuss the practicalities, such as outlier filtering, parameter estimation, and diagnostics.

We focus on one particular application, stochastic volatility with leverage, and show how recent advances in filtering methods can help in this application: kernel density estimation can be used to estimate the predicted observation, filter out outliers, detect structural change, and improve the root mean square error while preventing discontinuities due to the resampling step.

We then take a closer look at the discretisation of the continuous-time stochastic volatility models and show how an alternative discretisation, based on what we call a filtering Euler--Maruyama scheme, together with our generalisation of Gaussian assumed density filters to arbitrary (not necessarily additive) correlated process and observation noises, gives rise to a new, very fast approximate filter for stochastic volatility with leverage. Its accuracy falls short of particle filters but beats the unscented Kalman filter. Due to its speed and reliance exclusively on scalar computations this filter will be particularly useful in a high-frequency trading environment.

In the final chapter we examine the leverage effect in high-frequency trade data, using last data point interpolation, tick and wall-clock time and generalise the models to take into account the time intervals between the ticks.

We use a combination of MCMC methods and particle filtering methods. The robustness of the latter helps estimate parameters and compute Bayes factors. The speed and precision of modern filtering algorithms enables real-time filtering and prediction of the state.
Towards Open Domain Text-Driven Synthesis of Multi-Person Motions
Authors: Mengyi Shan, Lu Dong, Yutao Han, Yuan YAO, Tao Liu, Ifeoma Nwogu, Guo-Jun Qi, Mitch Hill
Date: 2024-05-28 00:00:00
Tasks: Diversity, Motion Generation

This work aims to generate natural and diverse group motions of multiple humans from textual descriptions. While single-person text-to-motion generation is extensively studied, it remains challenging to synthesize motions for more than one or two subjects from in-the-wild prompts, mainly due to the lack of available datasets. In this work, we curate human pose and motion datasets by estimating pose information from large-scale image and video datasets. Our models use a transformer-based diffusion framework that accommodates multiple datasets with any number of subjects or frames. Experiments explore both generation of multi-person static poses and generation of multi-person motion sequences. To our knowledge, our method is the first to generate multi-subject motion sequences with high diversity and fidelity from a large variety of textual prompts.
FDQN: A Flexible Deep Q-Network Framework for Game Automation
Authors: Prabhath Reddy Gujavarthy
Date: 2024-05-29 00:00:00
Tasks: Atari Games, Decision Making, Multi-Goal Reinforcement Learning

In reinforcement learning, it is often difficult to automate high-dimensional, rapid decision-making in dynamic environments, especially when domains require real-time online interaction and adaptive strategies such as web-based games. This work proposes a state-of-the-art Flexible Deep Q-Network (FDQN) framework that can address this challenge with a selfadaptive approach that is processing high-dimensional sensory data in realtime using a CNN and dynamically adapting the model architecture to varying action spaces of different gaming environments and outperforming previous baseline models in various Atari games and the Chrome Dino game as baselines. Using the epsilon-greedy policy, it effectively balances the new learning and exploitation for improved performance, and it has been designed with a modular structure that it can be easily adapted to other HTML-based games without touching the core part of the framework. It is demonstrated that the FDQN framework can successfully solve a well-defined task in a laboratory condition, but more importantly it also discusses potential applications to more challenging real-world cases and serve as the starting point for future further exploration into automated game play and beyond.
Compressing Large Language Models using Low Rank and Low Precision Decomposition
Authors: Rajarshi Saha, Naomi Sagan, Varun Srivastava, Andrea J. Goldsmith, Mert Pilanci
Date: 2024-05-29 00:00:00
Tasks: Quantization

The prohibitive sizes of Large Language Models (LLMs) today make it difficult to deploy them on memory-constrained edge devices. This work introduces $\rm CALDERA$ -- a new post-training LLM compression algorithm that harnesses the inherent low-rank structure of a weight matrix $\mathbf{W}$ by approximating it via a low-rank, low-precision decomposition as $\mathbf{W} \approx \mathbf{Q} + \mathbf{L}\mathbf{R}$. Here, $\mathbf{L}$ and $\mathbf{R}$ are low rank factors, and the entries of $\mathbf{Q}$, $\mathbf{L}$ and $\mathbf{R}$ are quantized. The model is compressed by substituting each layer with its $\mathbf{Q} + \mathbf{L}\mathbf{R}$ decomposition, and the zero-shot performance of the compressed model is evaluated. Additionally, $\mathbf{L}$ and $\mathbf{R}$ are readily amenable to low-rank adaptation, consequently enhancing the zero-shot performance. $\rm CALDERA$ obtains this decomposition by formulating it as an optimization problem $\min_{\mathbf{Q},\mathbf{L},\mathbf{R}}\lVert(\mathbf{Q} + \mathbf{L}\mathbf{R} - \mathbf{W})\mathbf{X}^\top\rVert_{\rm F}^2$, where $\mathbf{X}$ is the calibration data, and $\mathbf{Q}, \mathbf{L}, \mathbf{R}$ are constrained to be representable using low-precision formats. Theoretical upper bounds on the approximation error of $\rm CALDERA$ are established using a rank-constrained regression framework, and the tradeoff between compression ratio and model performance is studied by analyzing the impact of target rank and quantization bit budget. Results illustrate that compressing LlaMa-$2$ $7$B/$13B$/$70$B and LlaMa-$3$ $8$B models using $\rm CALDERA$ outperforms existing post-training LLM compression techniques in the regime of less than $2.5$ bits per parameter. The implementation is available at: https://github.com/pilancilab/caldera.
Preferred-Action-Optimized Diffusion Policies for Offline Reinforcement Learning
Authors: Tianle Zhang, Jiayi Guan, Lin Zhao, Yihang Li, Dongjiang Li, Zecui Zeng, Lei Sun, Yue Chen, Xuelong Wei, Lusong Li, Xiaodong He
Date: 2024-05-29 00:00:00
Tasks: Offline RL, reinforcement-learning, Reinforcement Learning, Reinforcement Learning (RL)

Offline reinforcement learning (RL) aims to learn optimal policies from previously collected datasets. Recently, due to their powerful representational capabilities, diffusion models have shown significant potential as policy models for offline RL issues. However, previous offline RL algorithms based on diffusion policies generally adopt weighted regression to improve the policy. This approach optimizes the policy only using the collected actions and is sensitive to Q-values, which limits the potential for further performance enhancement. To this end, we propose a novel preferred-action-optimized diffusion policy for offline RL. In particular, an expressive conditional diffusion model is utilized to represent the diverse distribution of a behavior policy. Meanwhile, based on the diffusion model, preferred actions within the same behavior distribution are automatically generated through the critic function. Moreover, an anti-noise preference optimization is designed to achieve policy improvement by using the preferred actions, which can adapt to noise-preferred actions for stable training. Extensive experiments demonstrate that the proposed method provides competitive or superior performance compared to previous state-of-the-art offline RL methods, particularly in sparse reward tasks such as Kitchen and AntMaze. Additionally, we empirically prove the effectiveness of anti-noise preference optimization.
Continual Collaborative Distillation for Recommender System
Authors: Gyuseok Lee, SeongKu Kang, Wonbin Kweon, Hwanjo Yu
Date: 2024-05-29 00:00:00
Tasks: Knowledge Distillation, Recommendation Systems

Knowledge distillation (KD) has emerged as a promising technique for addressing the computational challenges associated with deploying large-scale recommender systems. KD transfers the knowledge of a massive teacher system to a compact student model, to reduce the huge computational burdens for inference while retaining high accuracy. The existing KD studies primarily focus on one-time distillation in static environments, leaving a substantial gap in their applicability to real-world scenarios dealing with continuously incoming users, items, and their interactions. In this work, we delve into a systematic approach to operating the teacher-student KD in a non-stationary data stream. Our goal is to enable efficient deployment through a compact student, which preserves the high performance of the massive teacher, while effectively adapting to continuously incoming data. We propose Continual Collaborative Distillation (CCD) framework, where both the teacher and the student continually and collaboratively evolve along the data stream. CCD facilitates the student in effectively adapting to new data, while also enabling the teacher to fully leverage accumulated knowledge. We validate the effectiveness of CCD through extensive quantitative, ablative, and exploratory experiments on two real-world datasets. We expect this research direction to contribute to narrowing the gap between existing KD studies and practical applications, thereby enhancing the applicability of KD in real-world systems.
LLMs Meet Multimodal Generation and Editing: A Survey
Authors: Yingqing He, Zhaoyang Liu, Jingye Chen, Zeyue Tian, Hongyu Liu, Xiaowei Chi, Runtao Liu, Ruibin Yuan, Yazhou Xing, Wenhai Wang, Jifeng Dai, Yong Zhang, Wei Xue, Qifeng Liu, Yike Guo, Qifeng Chen
Date: 2024-05-29 00:00:00
Tasks: multimodal generation, Survey

With the recent advancement in large language models (LLMs), there is a growing interest in combining LLMs with multimodal learning. Previous surveys of multimodal large language models (MLLMs) mainly focus on multimodal understanding. This survey elaborates on multimodal generation and editing across various domains, comprising image, video, 3D, and audio. Specifically, we summarize the notable advancements with milestone works in these fields and categorize these studies into LLM-based and CLIP/T5-based methods. Then, we summarize the various roles of LLMs in multimodal generation and exhaustively investigate the critical technical components behind these methods and the multimodal datasets utilized in these studies. Additionally, we dig into tool-augmented multimodal agents that can leverage existing generative models for human-computer interaction. Lastly, we discuss the advancements in the generative AI safety field, investigate emerging applications, and discuss future prospects. Our work provides a systematic and insightful overview of multimodal generation and processing, which is expected to advance the development of Artificial Intelligence for Generative Content (AIGC) and world models. A curated list of all related papers can be found at https://github.com/YingqingHe/Awesome-LLMs-meet-Multimodal-Generation
Self-Exploring Language Models: Active Preference Elicitation for Online Alignment
Authors: Shenao Zhang, Donghan Yu, Hiteshi Sharma, Han Zhong, Zhihan Liu, ZiYi Yang, Shuohang Wang, Hany Hassan, Zhaoran Wang
Date: 2024-05-29 00:00:00
Tasks: Instruction Following

Preference optimization, particularly through Reinforcement Learning from Human Feedback (RLHF), has achieved significant success in aligning Large Language Models (LLMs) to adhere to human intentions. Unlike offline alignment with a fixed dataset, online feedback collection from humans or AI on model generations typically leads to more capable reward models and better-aligned LLMs through an iterative process. However, achieving a globally accurate reward model requires systematic exploration to generate diverse responses that span the vast space of natural language. Random sampling from standard reward-maximizing LLMs alone is insufficient to fulfill this requirement. To address this issue, we propose a bilevel objective optimistically biased towards potentially high-reward responses to actively explore out-of-distribution regions. By solving the inner-level problem with the reparameterized reward function, the resulting algorithm, named Self-Exploring Language Models (SELM), eliminates the need for a separate RM and iteratively updates the LLM with a straightforward objective. Compared to Direct Preference Optimization (DPO), the SELM objective reduces indiscriminate favor of unseen extrapolations and enhances exploration efficiency. Our experimental results demonstrate that when fine-tuned on Zephyr-7B-SFT and Llama-3-8B-Instruct models, SELM significantly boosts the performance on instruction-following benchmarks such as MT-Bench and AlpacaEval 2.0, as well as various standard academic benchmarks in different settings. Our code and models are available at https://github.com/shenao-zhang/SELM.
NPGA: Neural Parametric Gaussian Avatars
Authors: Simon Giebenhain, Tobias Kirschstein, Martin Rünz, Lourdes Agapito, Matthias Nießner
Date: 2024-05-29 00:00:00

The creation of high-fidelity, digital versions of human heads is an important stepping stone in the process of further integrating virtual components into our everyday lives. Constructing such avatars is a challenging research problem, due to a high demand for photo-realism and real-time rendering performance. In this work, we propose Neural Parametric Gaussian Avatars (NPGA), a data-driven approach to create high-fidelity, controllable avatars from multi-view video recordings. We build our method around 3D Gaussian splatting for its highly efficient rendering and to inherit the topological flexibility of point clouds. In contrast to previous work, we condition our avatars' dynamics on the rich expression space of neural parametric head models (NPHM), instead of mesh-based 3DMMs. To this end, we distill the backward deformation field of our underlying NPHM into forward deformations which are compatible with rasterization-based rendering. All remaining fine-scale, expression-dependent details are learned from the multi-view videos. For increased representational capacity of our avatars, we propose per-Gaussian latent features that condition each primitives dynamic behavior. To regularize this increased dynamic expressivity, we propose Laplacian terms on the latent features and predicted dynamics. We evaluate our method on the public NeRSemble dataset, demonstrating that NPGA significantly outperforms the previous state-of-the-art avatars on the self-reenactment task by 2.6 PSNR. Furthermore, we demonstrate accurate animation capabilities from real-world monocular videos.
MAP-Neo: Highly Capable and Transparent Bilingual Large Language Model Series
Authors: Ge Zhang, Scott Qu, Jiaheng Liu, Chenchen Zhang, Chenghua Lin, Chou Leuang Yu, Danny Pan, Esther Cheng, Jie Liu, Qunshu Lin, Raven Yuan, Tuney Zheng, Wei Pang, Xinrun Du, Yiming Liang, Yinghao Ma, Yizhi Li, Ziyang Ma, Bill Lin, Emmanouil Benetos, Huan Yang, Junting Zhou, Kaijing Ma, Minghao Liu, Morry Niu, Noah Wang, Quehry Que, Ruibo Liu, Sine Liu, Shawn Guo, Soren Gao, Wangchunshu Zhou, Xinyue Zhang, Yizhi Zhou, YuBo Wang, Yuelin Bai, Yuhan Zhang, Yuxiang Zhang, Zenith Wang, Zhenzhu Yang, Zijian Zhao, Jiajun Zhang, Wanli Ouyang, Wenhao Huang, Wenhu Chen
Date: 2024-05-29 00:00:00
Tasks: Language Modeling, Language Modelling, Large Language Model

Large Language Models (LLMs) have made great strides in recent years to achieve unprecedented performance across different tasks. However, due to commercial interest, the most competitive models like GPT, Gemini, and Claude have been gated behind proprietary interfaces without disclosing the training details. Recently, many institutions have open-sourced several strong LLMs like LLaMA-3, comparable to existing closed-source LLMs. However, only the model's weights are provided with most details (e.g., intermediate checkpoints, pre-training corpus, and training code, etc.) being undisclosed. To improve the transparency of LLMs, the research community has formed to open-source truly open LLMs (e.g., Pythia, Amber, OLMo), where more details (e.g., pre-training corpus and training code) are being provided. These models have greatly advanced the scientific study of these large models including their strengths, weaknesses, biases and risks. However, we observe that the existing truly open LLMs on reasoning, knowledge, and coding tasks are still inferior to existing state-of-the-art LLMs with similar model sizes. To this end, we open-source MAP-Neo, a highly capable and transparent bilingual language model with 7B parameters trained from scratch on 4.5T high-quality tokens. Our MAP-Neo is the first fully open-sourced bilingual LLM with comparable performance compared to existing state-of-the-art LLMs. Moreover, we open-source all details to reproduce our MAP-Neo, where the cleaned pre-training corpus, data cleaning pipeline, checkpoints, and well-optimized training/evaluation framework are provided. Finally, we hope our MAP-Neo will enhance and strengthen the open research community and inspire more innovations and creativities to facilitate the further improvements of LLMs.
Are Large Language Models Chameleons? An Attempt to Simulate Social Surveys
Authors: Mingmeng Geng, Sihong He, Roberto Trotta
Date: 2024-05-29 00:00:00
Tasks: Survey

Can large language models (LLMs) simulate social surveys? To answer this question, we conducted millions of simulations in which LLMs were asked to answer subjective questions. A comparison of different LLM responses with the European Social Survey (ESS) data suggests that the effect of prompts on bias and variability is fundamental, highlighting major cultural, age, and gender biases. We further discussed statistical methods for measuring the difference between LLM answers and survey data and proposed a novel measure inspired by Jaccard similarity, as LLM-generated responses are likely to have a smaller variance. Our experiments also reveal that it is important to analyze the robustness and variability of prompts before using LLMs to simulate social surveys, as their imitation abilities are approximate at best.
Value-Incentivized Preference Optimization: A Unified Approach to Online and Offline RLHF
Authors: Shicong Cen, Jincheng Mei, Katayoon Goshvadi, Hanjun Dai, Tong Yang, Sherry Yang, Dale Schuurmans, Yuejie Chi, Bo Dai
Date: 2024-05-29 00:00:00
Tasks: reinforcement-learning, Reinforcement Learning, Reinforcement Learning (RL), Text Summarization

Reinforcement learning from human feedback (RLHF) has demonstrated great promise in aligning large language models (LLMs) with human preference. Depending on the availability of preference data, both online and offline RLHF are active areas of investigation. A key bottleneck is understanding how to incorporate uncertainty estimation in the reward function learned from the preference data for RLHF, regardless of how the preference data is collected. While the principles of optimism or pessimism under uncertainty are well-established in standard reinforcement learning (RL), a practically-implementable and theoretically-grounded form amenable to large language models is not yet available, as standard techniques for constructing confidence intervals become intractable under arbitrary policy parameterizations. In this paper, we introduce a unified approach to online and offline RLHF -- value-incentivized preference optimization (VPO) -- which regularizes the maximum-likelihood estimate of the reward function with the corresponding value function, modulated by a $\textit{sign}$ to indicate whether the optimism or pessimism is chosen. VPO also directly optimizes the policy with implicit reward modeling, and therefore shares a simpler RLHF pipeline similar to direct preference optimization. Theoretical guarantees of VPO are provided for both online and offline settings, matching the rates of their standard RL counterparts. Moreover, experiments on text summarization and dialog verify the practicality and effectiveness of VPO.
Generalized Neyman Allocation for Locally Minimax Optimal Best-Arm Identification
Authors: Masahiro Kato
Date: 2024-05-29 00:00:00

This study investigates an asymptotically locally minimax optimal algorithm for fixed-budget best-arm identification (BAI). We propose the Generalized Neyman Allocation (GNA) algorithm and demonstrate that its worst-case upper bound on the probability of misidentifying the best arm aligns with the worst-case lower bound under the small-gap regime, where the gap between the expected outcomes of the best and suboptimal arms is small. Our lower and upper bounds are tight, matching exactly including constant terms within the small-gap regime. The GNA algorithm generalizes the Neyman allocation for two-armed bandits (Neyman, 1934; Kaufmann et al., 2016) and refines existing BAI algorithms, such as those proposed by Glynn & Juneja (2004). By proposing an asymptotically minimax optimal algorithm, we address the longstanding open issue in BAI (Kaufmann, 2020) and treatment choice (Kasy & Sautmann, 202) by restricting a class of distributions to the small-gap regimes.
Language Models Trained to do Arithmetic Predict Human Risky and Intertemporal Choice
Authors: Jian-Qiao Zhu, Haijiang Yan, Thomas L. Griffiths
Date: 2024-05-29 00:00:00
Tasks: Decision Making, valid

The observed similarities in the behavior of humans and Large Language Models (LLMs) have prompted researchers to consider the potential of using LLMs as models of human cognition. However, several significant challenges must be addressed before LLMs can be legitimately regarded as cognitive models. For instance, LLMs are trained on far more data than humans typically encounter, and may have been directly trained on human data in specific cognitive tasks or aligned with human preferences. Consequently, the origins of these behavioral similarities are not well understood. In this paper, we propose a novel way to enhance the utility of LLMs as cognitive models. This approach involves (i) leveraging computationally equivalent tasks that both an LLM and a rational agent need to master for solving a cognitive problem and (ii) examining the specific task distributions required for an LLM to exhibit human-like behaviors. We apply this approach to decision-making -- specifically risky and intertemporal choice -- where the key computationally equivalent task is the arithmetic of expected value calculations. We show that an LLM pretrained on an ecologically valid arithmetic dataset, which we call Arithmetic-GPT, predicts human behavior better than many traditional cognitive models. Pretraining LLMs on ecologically valid arithmetic datasets is sufficient to produce a strong correspondence between these models and human decision-making. Our results also suggest that LLMs used as cognitive models should be carefully investigated via ablation studies of the pretraining data.