Abstract
We evaluate LLM risk propensities across a range of contexts and task demands. We evaluate models for how risk averse or risk tolerant they are in various conditions, as well as how stable and consistent their behavior is across conditions. We present a toolkit for developing model risk profiles that can be used to predict model behavior and which can be adapted to include new evaluations of risk propensities. We also examine how these properties have changed across model generations and families. We observe that 2026 state-of-the-art models tend to be more stable, more consistent, and more risk neutral than older models. These trends appear to be related; newer models are more stable and consistent because they are more likely to use expected value maximization as a decision procedure.
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URL
https://arxiv.org/abs/2611.16318
