LLM Consumer Behavior Theory: Foundations of a Novel Research Field

The paper introduces LLM Consumer Behavior Theory, a new research field that examines how large language models (LLMs) function as autonomous agents in consumer decision-making. It integrates concepts from classical and behavioral economics with advancements in Natural Language Processing to analyze how LLMs reflect and act upon human preferences, impacting market demand. This theoretical framework aims to address gaps in understanding LLM decision-making and presents key research areas, including alignment, preference representation, and market dynamics, which are crucial for practitioners developing LLM applications in consumer markets.