Daily Papers

Text-to-image synthesis has made encouraging progress and attracted lots of public attention recently. However, popular evaluation metrics in this area, like the Inception Score and Fr'echet Inception Distance, incur several issues. First of all, they cannot explicitly assess the perceptual quality of generated images and poorly reflect the semantic alignment of each text-image pair. Also, they are inefficient and need to sample thousands of images to stabilise their evaluation results. In this paper, we propose to evaluate text-to-image generation performance by directly estimating the likelihood of the generated images using a pre-trained likelihood-based text-to-image generative model, i.e., a higher likelihood indicates better perceptual quality and better text-image alignment. To prevent the likelihood of being dominated by the non-crucial part of the generated image, we propose several new designs to develop a credit assignment strategy based on the semantic and perceptual significance of the image patches. In the experiments, we evaluate the proposed metric on multiple popular text-to-image generation models and datasets in accessing both the perceptual quality and the text-image alignment. Moreover, it can successfully assess the generation ability of these models with as few as a hundred samples, making it very efficient in practice.

Preference based Reinforcement Learning (PbRL) removes the need to hand specify a reward function by learning a reward from preference feedback over policy behaviors. Current approaches to PbRL do not address the credit assignment problem inherent in determining which parts of a behavior most contributed to a preference, which result in data intensive approaches and subpar reward functions. We address such limitations by introducing a credit assignment strategy (Hindsight PRIOR) that uses a world model to approximate state importance within a trajectory and then guides rewards to be proportional to state importance through an auxiliary predicted return redistribution objective. Incorporating state importance into reward learning improves the speed of policy learning, overall policy performance, and reward recovery on both locomotion and manipulation tasks. For example, Hindsight PRIOR recovers on average significantly (p<0.05) more reward on MetaWorld (20%) and DMC (15%). The performance gains and our ablations demonstrate the benefits even a simple credit assignment strategy can have on reward learning and that state importance in forward dynamics prediction is a strong proxy for a state's contribution to a preference decision. Code repository can be found at https://github.com/apple/ml-rlhf-hindsight-prior.

Enabling effective collaboration among LLMs is a crucial step toward developing autonomous systems capable of solving complex problems. While LLMs are typically used as single-model generators, where humans critique and refine their outputs, the potential for jointly-trained collaborative models remains largely unexplored. Despite promising results in multi-agent communication and debate settings, little progress has been made in training models to work together on tasks. In this paper, we present a first step toward "Multi-agent LLM training" (MALT) on reasoning problems. Our approach employs a sequential multi-agent setup with heterogeneous LLMs assigned specialized roles: a generator, verifier, and refinement model iteratively solving problems. We propose a trajectory-expansion-based synthetic data generation process and a credit assignment strategy driven by joint outcome based rewards. This enables our post-training setup to utilize both positive and negative trajectories to autonomously improve each model's specialized capabilities as part of a joint sequential system. We evaluate our approach across MATH, GSM8k, and CQA, where MALT on Llama 3.1 8B models achieves relative improvements of 14.14%, 7.12%, and 9.40% respectively over the same baseline model. This demonstrates an early advance in multi-agent cooperative capabilities for performance on mathematical and common sense reasoning questions. More generally, our work provides a concrete direction for research around multi-agent LLM training approaches.

Large language models (LLMs) are increasingly trained with reinforcement learning (RL) as autonomous agents that reason and act over long horizons in interactive environments. However, sparse and sometimes unverifiable rewards make temporal credit assignment extremely challenging. Recent work attempts to integrate process supervision into agent learning but suffers from biased annotation, reward hacking, high-variance from overly fine-grained signals or failtures when state overlap is rare. We therefore introduce Online Process Reward Learning (OPRL), a general credit-assignment strategy for agentic RL that integrates seamlessly with standard on-policy algorithms without relying on additional rollouts or explicit step labels. In OPRL, we optimize an implicit process reward model (PRM) alternately with the agent's policy to transform trajectory preferences into implicit step rewards through a trajectory-based DPO objective. These step rewards are then used to compute step-level advantages, which are combined with episode-level advantages from outcome rewards for policy update, creating a self-reinforcing loop. Theoretical findings guarantee that the learned step rewards are consistent with trajectory preferences and act as potential-based shaping rewards, providing bounded gradients to stabilize training. Empirically, we evaluate OPRL on three distinct agent benmarks, including WebShop and VisualSokoban, as well as open-ended social interactions with unverfiable rewards in SOTOPIA. Crucially, OPRL shows superior performance over frontier LLMs and strong RL baselines across domains, achieving state-of-the-art results with higher sample-efficiency and lower variance during training. Further analysis also demonstrates the efficient exploration by OPRL using fewer actions, underscoring its potential for agentic learning in real-world scenarios.

Multimodal reasoning over long-horizon video is challenging due to the need for precise spatiotemporal fusion and alignment across modalities. While recent methods such as Group Relative Policy Optimization (GRPO) have shown promise in this domain, they suffer from three key limitations: (1) data inefficiency from their on-policy design, (2) a vanishing advantage problem, where identical or near-identical rewards within a group eliminate the learning signal by producing zero-valued advantages, and (3) uniform credit assignment that fails to emphasize critical reasoning steps. We introduce AVATAR (Audio-Video Agent for Alignment and Reasoning), a framework that addresses these limitations through two core components: (1) an off-policy training architecture that improves sample efficiency and resolves vanishing advantages by reusing past experiences with greater reward diversity, and (2) Temporal Advantage Shaping (TAS), a novel credit assignment strategy that upweights key reasoning phases during learning. AVATAR achieves strong performance across various benchmarks, outperforming the Qwen2.5-Omni baseline by +5.4on MMVU, +4.9 on OmniBench, and +4.5 on Video-Holmes, while demonstrating over 35% higher sample efficiency.

LLM-based agents have made significant advancements in interactive environments, such as mobile operations and web browsing, and other domains beyond computer using. Current multi-agent systems universally excel in performance, compared to single agents, but struggle with generalization across environments due to predefined roles and inadequate strategies for generalizing language agents. The challenge of achieving both strong performance and good generalization has hindered the progress of multi-agent systems for interactive environments. To address these issues, we propose CollabUIAgents, a multi-agent reinforcement learning framework with a novel multi-agent credit re-assignment (CR) strategy, assigning process rewards with LLMs rather than environment-specific rewards and learning with synthesized preference data, in order to foster generalizable, collaborative behaviors among the role-free agents' policies. Empirical results show that our framework improves both performance and cross-environment generalizability of multi-agent systems. Moreover, our 7B-parameter system achieves results on par with or exceed strong closed-source models, and the LLM that guides the CR. We also provide insights in using granular CR rewards effectively for environment generalization, and accommodating trained LLMs in multi-agent systems.

This paper investigates approaches to enhance the reasoning capabilities of Large Language Model (LLM) agents using Reinforcement Learning (RL). Specifically, we focus on multi-turn tool-use scenarios, which can be naturally modeled as Markov Decision Processes (MDPs). While existing approaches often train multi-turn LLM agents with trajectory-level advantage estimation in bandit settings, they struggle with turn-level credit assignment across multiple decision steps, limiting their performance on multi-turn reasoning tasks. To address this, we introduce a fine-grained turn-level advantage estimation strategy to enable more precise credit assignment in multi-turn agent interactions. The strategy is general and can be incorporated into various RL algorithms such as Group Relative Preference Optimization (GRPO). Our experimental evaluation on multi-turn reasoning and search-based tool-use tasks with GRPO implementations highlights the effectiveness of the MDP framework and the turn-level credit assignment in advancing the multi-turn reasoning capabilities of LLM agents in complex decision-making settings. Our method achieves 100% success in tool execution and 50% accuracy in exact answer matching, significantly outperforming baselines, which fail to invoke tools and achieve only 20-30% exact match accuracy.

Enhancing the reasoning capabilities of large language models effectively using reinforcement learning (RL) remains a crucial challenge. Existing approaches primarily adopt two contrasting advantage estimation granularities: Token-level methods (e.g., PPO) aim to provide the fine-grained advantage signals but suffer from inaccurate estimation due to difficulties in training an accurate critic model. On the other extreme, trajectory-level methods (e.g., GRPO) solely rely on a coarse-grained advantage signal from the final reward, leading to imprecise credit assignment. To address these limitations, we propose Segment Policy Optimization (SPO), a novel RL framework that leverages segment-level advantage estimation at an intermediate granularity, achieving a better balance by offering more precise credit assignment than trajectory-level methods and requiring fewer estimation points than token-level methods, enabling accurate advantage estimation based on Monte Carlo (MC) without a critic model. SPO features three components with novel strategies: (1) flexible segment partition; (2) accurate segment advantage estimation; and (3) policy optimization using segment advantages, including a novel probability-mask strategy. We further instantiate SPO for two specific scenarios: (1) SPO-chain for short chain-of-thought (CoT), featuring novel cutpoint-based partition and chain-based advantage estimation, achieving 6-12 percentage point improvements in accuracy over PPO and GRPO on GSM8K. (2) SPO-tree for long CoT, featuring novel tree-based advantage estimation, which significantly reduces the cost of MC estimation, achieving 7-11 percentage point improvements over GRPO on MATH500 under 2K and 4K context evaluation. We make our code publicly available at https://github.com/AIFrameResearch/SPO.

Effective interactive tool use requires agents to master Tool Integrated Reasoning (TIR): a complex process involving multi-turn planning and long-context dialogue management. To train agents for this dynamic process, particularly in multi-modal contexts, we introduce a sandbox environment for reinforcement learning (RL) that supports interleaved speech-text rollouts. Our core strategy, Turn-level Adjudicated Reinforcement Learning (TARL), addresses the challenge of credit assignment in long-horizon tasks by employing a Large Language Model (LLM) as a judge to provide turn-level evaluation. To enhance exploration, we integrate a mixed-task training curriculum with mathematical reasoning problems. This unified approach boosts the task pass rate on the text-based τ-bench by over 6% compared to strong RL baselines. Crucially, we demonstrate our framework's suitability for fine-tuning a multi-modal foundation model for agentic tasks. By training a base multi-modal LLM on interleaved speech-text rollouts, we equip it with tool-use abilities, paving the way for more natural, voice-driven interactive agents.

Recent advancements in reinforcement learning have made significant impacts across various domains, yet they often struggle in complex multi-agent environments due to issues like algorithm instability, low sampling efficiency, and the challenges of exploration and dimensionality explosion. Hierarchical reinforcement learning (HRL) offers a structured approach to decompose complex tasks into simpler sub-tasks, which is promising for multi-agent settings. This paper advances the field by introducing a hierarchical architecture that autonomously generates effective subgoals without explicit constraints, enhancing both flexibility and stability in training. We propose a dynamic goal generation strategy that adapts based on environmental changes. This method significantly improves the adaptability and sample efficiency of the learning process. Furthermore, we address the critical issue of credit assignment in multi-agent systems by synergizing our hierarchical architecture with a modified QMIX network, thus improving overall strategy coordination and efficiency. Comparative experiments with mainstream reinforcement learning algorithms demonstrate the superior convergence speed and performance of our approach in both single-agent and multi-agent environments, confirming its effectiveness and flexibility in complex scenarios. Our code is open-sourced at: https://github.com/SICC-Group/GMAH.

Off-policy learning from multistep returns is crucial for sample-efficient reinforcement learning, but counteracting off-policy bias without exacerbating variance is challenging. Classically, off-policy bias is corrected in a per-decision manner: past temporal-difference errors are re-weighted by the instantaneous Importance Sampling (IS) ratio after each action via eligibility traces. Many off-policy algorithms rely on this mechanism, along with differing protocols for cutting the IS ratios to combat the variance of the IS estimator. Unfortunately, once a trace has been fully cut, the effect cannot be reversed. This has led to the development of credit-assignment strategies that account for multiple past experiences at a time. These trajectory-aware methods have not been extensively analyzed, and their theoretical justification remains uncertain. In this paper, we propose a multistep operator that can express both per-decision and trajectory-aware methods. We prove convergence conditions for our operator in the tabular setting, establishing the first guarantees for several existing methods as well as many new ones. Finally, we introduce Recency-Bounded Importance Sampling (RBIS), which leverages trajectory awareness to perform robustly across lambda-values in an off-policy control task.

Developing Large Language Models (LLMs) to cooperate and compete effectively within multi-agent systems is a critical step towards more advanced intelligence. While reinforcement learning (RL) has proven effective for enhancing reasoning in single-agent tasks, its extension to multi-turn, multi-agent scenarios remains underexplored due to the challenges of long-horizon credit assignment and agent-specific advantage estimation. To address these challenges, we introduce MARS, an end-to-end RL framework that incentivizes Multi-Agent Reasoning of LLMs through Self-play in both cooperative and competitive games. MARS features a turn-level advantage estimator that aligns learning signals with each interaction for credit assignment, and an agent-specific advantage normalization to stabilize multi-agent training. By learning with self-play across cooperative and competitive games, the MARS agent trained from Qwen3-4B develops strong strategic abilities that generalize to held-out games with up to 28.7% performance improvements. More importantly, the capability acquired through self-play generalizes beyond games, yielding consistent performance gains of multi-agent systems in reasoning benchmarks. When integrated into leading multi-agent systems, our MARS agent achieves significant performance gains of 10.0% on AIME and 12.5% on GPQA-Diamond. These results establish end-to-end RL training with self-play in strategic games as a powerful approach for developing generalizable multi-agent reasoning capabilities in LLMs. Our code and models are publicly available at https://github.com/thu-nics/MARS.

Large language model (LLM) agents increasingly rely on external tools such as search engines to solve complex, multi-step problems, and reinforcement learning (RL) has become a key paradigm for training them. However, the trajectories of search agents are structurally heterogeneous, where variations in the number, placement, and outcomes of search calls lead to fundamentally different answer directions and reward distributions. Standard policy gradient methods, which use a single global baseline, suffer from what we identify and formalize as cross-stratum bias-an "apples-to-oranges" comparison of heterogeneous trajectories. This cross-stratum bias distorts credit assignment and hinders exploration of complex, multi-step search strategies. To address this, we propose Stratified GRPO, whose central component, Stratified Advantage Normalization (SAN), partitions trajectories into homogeneous strata based on their structural properties and computes advantages locally within each stratum. This ensures that trajectories are evaluated only against their true peers. Our analysis proves that SAN eliminates cross-stratum bias, yields conditionally unbiased unit-variance estimates inside each stratum, and retains the global unbiasedness and unit-variance properties enjoyed by standard normalization, resulting in a more pure and scale-stable learning signal. To improve practical stability under finite-sample regimes, we further linearly blend SAN with the global estimator. Extensive experiments on diverse single-hop and multi-hop question-answering benchmarks demonstrate that Stratified GRPO consistently and substantially outperforms GRPO by up to 11.3 points, achieving higher training rewards, greater training stability, and more effective search policies. These results establish stratification as a principled remedy for structural heterogeneity in RL for LLM search agents.

The reasoning pattern of Large language models (LLMs) remains opaque, and Reinforcement learning (RL) typically applies uniform credit across an entire generation, blurring the distinction between pivotal and routine steps. This work positions attention as a privileged substrate that renders the internal logic of LLMs legible, not merely as a byproduct of computation, but as a mechanistic blueprint of reasoning itself. We first distinguish attention heads between locally and globally focused information processing and reveal that locally focused heads produce a sawtooth pattern near the diagonal indicating phrasal chunks, while globally focused heads expose tokens that exert broad downstream influence over future tokens. We formalize these with two metrics: 1) Windowed Average Attention Distance, which measures the extent of backward attention within a clipped window; 2) Future Attention Influence, which quantifies a token's global importance as the average attention it receives from subsequent tokens. Taken together, these signals reveal a recurring preplan-and-anchor mechanism, where the model first performs a long-range contextual reference to generate an introductory token, which is immediately followed by or coincides with a semantic anchor token that organizes subsequent reasoning. Leveraging these insights, we introduce three novel RL strategies that dynamically perform targeted credit assignment to critical nodes (preplan tokens, anchor tokens, and their temporal coupling) and show consistent performance gains across various reasoning tasks. By aligning optimization with the model's intrinsic reasoning rhythm, we aim to transform opaque optimization into an actionable structure-aware process, hoping to offer a potential step toward more transparent and effective optimization of LLM reasoning.

Language Model Programs, i.e. sophisticated pipelines of modular language model (LM) calls, are increasingly advancing NLP tasks, but they require crafting prompts that are jointly effective for all modules. We study prompt optimization for LM programs, i.e. how to update these prompts to maximize a downstream metric without access to module-level labels or gradients. To make this tractable, we factorize our problem into optimizing the free-form instructions and few-shot demonstrations of every module and introduce several strategies to craft task-grounded instructions and navigate credit assignment across modules. Our strategies include (i) program- and data-aware techniques for proposing effective instructions, (ii) a stochastic mini-batch evaluation function for learning a surrogate model of our objective, and (iii) a meta-optimization procedure in which we refine how LMs construct proposals over time. Using these insights we develop MIPRO, a novel algorithm for optimizing LM programs. MIPRO outperforms baseline optimizers on five of seven diverse multi-stage LM programs using a best-in-class open-source model (Llama-3-8B), by as high as 13% accuracy. We have released our new optimizers and benchmark in DSPy at http://dspy.ai

We explore reinforcement learning (RL) techniques to enhance reasoning within targeted problem spaces in large language models (LLMs) under memory and compute constraints. Our focus is on critic-free methods compatible with LoRA fine-tuning on a single 40GB GPU, a common limitation in academic settings. We introduce S-GRPO, a memory-efficient variant of Group Relative Policy Optimization, and T-SPMO, a token-level prefix matching strategy for fine-grained credit assignment. Despite limited resources, when used to fine-tune Qwen2-1.5B both methods significantly improve SVAMP benchmark accuracy from 46% to above 70% using LoRA training. T-SPMO also excels in multi-digit multiplication tasks, underscoring the potential of RL fine-tuning under hardware constraints. Additionally, we find that our full-token GRPO baseline under LoRA fine-tuning did not improve model performance (compared to base model) on either task, suggesting that our memory-efficient methods may act as a form of regularization that stabilizes training when only a small subset of parameters are updated.

This paper introduces SC2LE (StarCraft II Learning Environment), a reinforcement learning environment based on the StarCraft II game. This domain poses a new grand challenge for reinforcement learning, representing a more difficult class of problems than considered in most prior work. It is a multi-agent problem with multiple players interacting; there is imperfect information due to a partially observed map; it has a large action space involving the selection and control of hundreds of units; it has a large state space that must be observed solely from raw input feature planes; and it has delayed credit assignment requiring long-term strategies over thousands of steps. We describe the observation, action, and reward specification for the StarCraft II domain and provide an open source Python-based interface for communicating with the game engine. In addition to the main game maps, we provide a suite of mini-games focusing on different elements of StarCraft II gameplay. For the main game maps, we also provide an accompanying dataset of game replay data from human expert players. We give initial baseline results for neural networks trained from this data to predict game outcomes and player actions. Finally, we present initial baseline results for canonical deep reinforcement learning agents applied to the StarCraft II domain. On the mini-games, these agents learn to achieve a level of play that is comparable to a novice player. However, when trained on the main game, these agents are unable to make significant progress. Thus, SC2LE offers a new and challenging environment for exploring deep reinforcement learning algorithms and architectures.

Credit assignment, the process of attributing credit or blame to individual agents for their contributions to a team's success or failure, remains a fundamental challenge in multi-agent reinforcement learning (MARL), particularly in environments with sparse rewards. Commonly-used approaches such as value decomposition often lead to suboptimal policies in these settings, and designing dense reward functions that align with human intuition can be complex and labor-intensive. In this work, we propose a novel framework where a large language model (LLM) generates dense, agent-specific rewards based on a natural language description of the task and the overall team goal. By learning a potential-based reward function over multiple queries, our method reduces the impact of ranking errors while allowing the LLM to evaluate each agent's contribution to the overall task. Through extensive experiments, we demonstrate that our approach achieves faster convergence and higher policy returns compared to state-of-the-art MARL baselines.

The temporal credit assignment problem is a central challenge in Reinforcement Learning (RL), concerned with attributing the appropriate influence to each actions in a trajectory for their ability to achieve a goal. However, when feedback is delayed and sparse, the learning signal is poor, and action evaluation becomes harder. Canonical solutions, such as reward shaping and options, require extensive domain knowledge and manual intervention, limiting their scalability and applicability. In this work, we lay the foundations for Credit Assignment with Language Models (CALM), a novel approach that leverages Large Language Models (LLMs) to automate credit assignment via reward shaping and options discovery. CALM uses LLMs to decompose a task into elementary subgoals and assess the achievement of these subgoals in state-action transitions. Every time an option terminates, a subgoal is achieved, and CALM provides an auxiliary reward. This additional reward signal can enhance the learning process when the task reward is sparse and delayed without the need for human-designed rewards. We provide a preliminary evaluation of CALM using a dataset of human-annotated demonstrations from MiniHack, suggesting that LLMs can be effective in assigning credit in zero-shot settings, without examples or LLM fine-tuning. Our preliminary results indicate that the knowledge of LLMs is a promising prior for credit assignment in RL, facilitating the transfer of human knowledge into value functions.

This paper proposes a novel reinforcement learning (RL) framework for credit underwriting that tackles ungeneralizable contextual challenges. We adapt RL principles for credit scoring, incorporating action space renewal and multi-choice actions. Our work demonstrates that the traditional underwriting approach aligns with the RL greedy strategy. We introduce two new RL-based credit underwriting algorithms to enable more informed decision-making. Simulations show these new approaches outperform the traditional method in scenarios where the data aligns with the model. However, complex situations highlight model limitations, emphasizing the importance of powerful machine learning models for optimal performance. Future research directions include exploring more sophisticated models alongside efficient exploration mechanisms.

Reinforcement Learning with Verifiable Rewards (RLVR) has improved the reasoning abilities of Large Language Models (LLMs) by using rule-based binary feedback, helping to mitigate reward hacking. However, current RLVR methods typically treat whole responses as single actions, assigning the same reward to every token. This coarse-grained feedback hampers precise credit assignment, making it hard for models to identify which reasoning steps lead to success or failure, and often results in suboptimal policies and inefficient learning. Methods like PPO provide credit assignment through value estimation, but often yield inaccurate and unverifiable signals due to limited sampling. On the other hand, methods using Process Reward Models can provide step-by-step judgments for each reasoning step, but they require high-quality process supervision labels and are time-consuming when applied in online reinforcement learning (RL). To overcome these limitations, we introduce a simple but efficient method Credit Assignment Policy Optimization (CAPO). Given a reasoning response rollout from the policy model, CAPO directly leverages an off-the-shelf, general-purpose LLM as a Generative Process Reward Model (LLM-as-GenPRM) to generate all step-wise critique by one pass, thereby providing verifiable token-level rewards to refine the tokens that were originally assigned identical rule-based rewards. This enables more fine-grained credit assignment in an effective way. Furthermore, to enhance the accuracy and robustness of CAPO, we employ voting mechanisms that scale with the number of generated critiques. Extensive experiments using different backbones like Llama and Qwen models and in different sizes show that CAPO consistently outperforms supervised learning-based and RL-based fine-tuning methods across six challenging mathematical benchmarks and three out-of-domain benchmarks.

Machine learning models are increasingly used to automate decisions that affect humans - deciding who should receive a loan, a job interview, or a social service. In such applications, a person should have the ability to change the decision of a model. When a person is denied a loan by a credit score, for example, they should be able to alter its input variables in a way that guarantees approval. Otherwise, they will be denied the loan as long as the model is deployed. More importantly, they will lack the ability to influence a decision that affects their livelihood. In this paper, we frame these issues in terms of recourse, which we define as the ability of a person to change the decision of a model by altering actionable input variables (e.g., income vs. age or marital status). We present integer programming tools to ensure recourse in linear classification problems without interfering in model development. We demonstrate how our tools can inform stakeholders through experiments on credit scoring problems. Our results show that recourse can be significantly affected by standard practices in model development, and motivate the need to evaluate recourse in practice.

Large language models (LLMs) are increasingly applied to complex reasoning tasks that require executing several complex steps before receiving any reward. Properly assigning credit to these steps is essential for enhancing model performance. Proximal Policy Optimization (PPO), a state-of-the-art reinforcement learning (RL) algorithm used for LLM finetuning, employs value networks to tackle credit assignment. However, value networks face challenges in predicting the expected cumulative rewards accurately in complex reasoning tasks, often leading to high-variance updates and suboptimal performance. In this work, we systematically evaluate the efficacy of value networks and reveal their significant shortcomings in reasoning-heavy LLM tasks, showing that they barely outperform a random baseline when comparing alternative steps. To address this, we propose VinePPO, a straightforward approach that leverages the flexibility of language environments to compute unbiased Monte Carlo-based estimates, bypassing the need for large value networks. Our method consistently outperforms PPO and other RL-free baselines across MATH and GSM8K datasets with fewer gradient updates (up to 9x), less wall-clock time (up to 3.0x). These results emphasize the importance of accurate credit assignment in RL finetuning of LLM and demonstrate VinePPO's potential as a superior alternative.

Reinforcement Learning (RL) has proven highly effective at enhancing the complex reasoning abilities of Large Language Models (LLMs), yet underlying mechanisms driving this success remain largely opaque. Our analysis reveals that puzzling phenomena like ``aha moments", ``length-scaling'' and entropy dynamics are not disparate occurrences but hallmarks of an emergent reasoning hierarchy, akin to the separation of high-level strategic planning from low-level procedural execution in human cognition. We uncover a compelling two-phase dynamic: initially, a model is constrained by procedural correctness and must improve its low-level skills. The learning bottleneck then decisively shifts, with performance gains being driven by the exploration and mastery of high-level strategic planning. This insight exposes a core inefficiency in prevailing RL algorithms like GRPO, which apply optimization pressure agnostically and dilute the learning signal across all tokens. To address this, we propose HIerarchy-Aware Credit Assignment (HICRA), an algorithm that concentrates optimization efforts on high-impact planning tokens. HICRA significantly outperforms strong baselines, demonstrating that focusing on this strategic bottleneck is key to unlocking advanced reasoning. Furthermore, we validate semantic entropy as a superior compass for measuring strategic exploration over misleading metrics such as token-level entropy.

Credit and risk assessments are cornerstones of the financial landscape, impacting both individual futures and broader societal constructs. Existing credit scoring models often exhibit limitations stemming from knowledge myopia and task isolation. In response, we formulate three hypotheses and undertake an extensive case study to investigate LLMs' viability in credit assessment. Our empirical investigations unveil LLMs' ability to overcome the limitations inherent in conventional models. We introduce a novel benchmark curated for credit assessment purposes, fine-tune a specialized Credit and Risk Assessment Large Language Model (CALM), and rigorously examine the biases that LLMs may harbor. Our findings underscore LLMs' potential in revolutionizing credit assessment, showcasing their adaptability across diverse financial evaluations, and emphasizing the critical importance of impartial decision-making in the financial sector. Our datasets, models, and benchmarks are open-sourced for other researchers.

Reinforcement learning (RL) often encounters delayed and sparse feedback in real-world applications, even with only episodic rewards. Previous approaches have made some progress in reward redistribution for credit assignment but still face challenges, including training difficulties due to redundancy and ambiguous attributions stemming from overlooking the multifaceted nature of mission performance evaluation. Hopefully, Large Language Model (LLM) encompasses fruitful decision-making knowledge and provides a plausible tool for reward redistribution. Even so, deploying LLM in this case is non-trivial due to the misalignment between linguistic knowledge and the symbolic form requirement, together with inherent randomness and hallucinations in inference. To tackle these issues, we introduce LaRe, a novel LLM-empowered symbolic-based decision-making framework, to improve credit assignment. Key to LaRe is the concept of the Latent Reward, which works as a multi-dimensional performance evaluation, enabling more interpretable goal attainment from various perspectives and facilitating more effective reward redistribution. We examine that semantically generated code from LLM can bridge linguistic knowledge and symbolic latent rewards, as it is executable for symbolic objects. Meanwhile, we design latent reward self-verification to increase the stability and reliability of LLM inference. Theoretically, reward-irrelevant redundancy elimination in the latent reward benefits RL performance from more accurate reward estimation. Extensive experimental results witness that LaRe (i) achieves superior temporal credit assignment to SOTA methods, (ii) excels in allocating contributions among multiple agents, and (iii) outperforms policies trained with ground truth rewards for certain tasks.

Reinforcement learning (RL) is a pivotal task for enhancing Large Language Model (LLM) reasoning. Conventional algorithms, however, typically adhere to a coarse-grained credit assignment paradigm, applying a uniform reward to all tokens in a sequence, a critical flaw in long-chain reasoning tasks. In this paper, we address this challenge and propose Dynamic Entropy Weighting, a novel mechanism that facilitates fine-grained rewards through two new algorithms: Group Token Policy Optimization (GTPO), which assigns an entropy-weighted reward to each token, and the analogous algorithm Sequence-Level GRPO (GRPO-S). Our approach is founded on the hypothesis that high policy entropy within a reasoning path is a powerful heuristic for cognitive effort at pivotal junctures, which can be repurposed into a learning signal. By repurposing policy entropy for reward shaping, we achieve true per-token credit assignment. Experimental results across challenging reasoning benchmarks validate the superiority of our approach, showing our methods significantly outperform a strong DAPO baseline and confirming our entropy-weighting mechanism as the key driver of this performance boost.

Recent advances in group-based reinforcement learning (RL) have driven frontier large language models (LLMs) in single-turn tasks like mathematical reasoning. However, their scalability to long-horizon LLM agent training remains limited. Unlike static tasks, agent-environment interactions unfold over many steps and often yield sparse or delayed rewards, making credit assignment across individual steps significantly more challenging. In this work, we propose Group-in-Group Policy Optimization (GiGPO), a novel RL algorithm that achieves fine-grained credit assignment for LLM agents while preserving the appealing properties of group-based RL: critic-free, low memory, and stable convergence. GiGPO introduces a two-level structure for estimating relative advantage: (i) At the episode-level, GiGPO computes macro relative advantages based on groups of complete trajectories; (ii) At the step-level, GiGPO introduces an anchor state grouping mechanism that retroactively constructs step-level groups by identifying repeated environment states across trajectories. Actions stemming from the same state are grouped together, enabling micro relative advantage estimation. This hierarchical structure effectively captures both global trajectory quality and local step effectiveness without relying on auxiliary models or additional rollouts. We evaluate GiGPO on two challenging agent benchmarks, ALFWorld and WebShop, using Qwen2.5-1.5B-Instruct and Qwen2.5-7B-Instruct. Crucially, GiGPO delivers fine-grained per-step credit signals and achieves performance gains of > 12\% on ALFWorld and > 9\% on WebShop over the GRPO baseline: all while maintaining the same GPU memory overhead, identical LLM rollout, and incurring little to no additional time cost.

We investigate the mechanism design problem faced by a principal who hires multiple agents to gather and report costly information. Then, the principal exploits the information to make an informed decision. We model this problem as a game, where the principal announces a mechanism consisting in action recommendations and a payment function, a.k.a. scoring rule. Then, each agent chooses an effort level and receives partial information about an underlying state of nature based on the effort. Finally, the agents report the information (possibly non-truthfully), the principal takes a decision based on this information, and the agents are paid according to the scoring rule. While previous work focuses on single-agent problems, we consider multi-agents settings. This poses the challenge of coordinating the agents' efforts and aggregating correlated information. Indeed, we show that optimal mechanisms must correlate agents' efforts, which introduces externalities among the agents, and hence complex incentive compatibility constraints and equilibrium selection problems. First, we design a polynomial-time algorithm to find an optimal incentive compatible mechanism. Then, we study an online problem, where the principal repeatedly interacts with a group of unknown agents. We design a no-regret algorithm that provides mathcal{O}(T^{2/3}) regret with respect to an optimal mechanism, matching the state-of-the-art bound for single-agent settings.

Large reasoning models (LRMs) have recently shown promise in solving complex math problems when optimized with Reinforcement Learning (RL). But conventional approaches rely on outcome-only rewards that provide sparse feedback, resulting in inefficient optimization process. In this work, we investigate the function of process reward models (PRMs) to accelerate the RL training for LRMs. We propose a novel intrinsic signal-driven generative process evaluation mechanism operating at the thought level to address major bottlenecks in RL-based training. Specifically, instead of requiring PRMs to know how to solve problems, our method uses intrinsic signals in solutions to judge stepwise correctness and aggregate contiguous correct/incorrect steps into coherent 'thought' units. This structured, thought-level rewards enable more reliable credit assignment by reducing ambiguity in step segmentation and alleviating reward hacking. We further introduce a capability-adaptive reward mechanism that dynamically balances exploration and exploitation based on the LRM's current proficiency, guiding learning without stifling creative trial-and-error. These innovations are integrated into a new off-policy RL algorithm, TP-GRPO, which extends grouped proximal optimization with process-based rewards and improves training efficiency. Experiments on 1.5B and 7B parameter LRMs demonstrate that our method achieves higher problem-solving accuracy with significantly fewer training samples than outcome-only reward baselines. The results validate that well-structured process rewards can substantially accelerate LRM optimization in math reasoning tasks. Code is available at https://github.com/cs-holder/tp_grpo.

Process reward models (PRMs) have proven effective for test-time scaling of Large Language Models (LLMs) on challenging reasoning tasks. However, reward hacking issues with PRMs limit their successful application in reinforcement fine-tuning. In this paper, we identify the main cause of PRM-induced reward hacking: the canonical summation-form credit assignment in reinforcement learning (RL), which defines the value as cumulative gamma-decayed future rewards, easily induces LLMs to hack steps with high rewards. To address this, we propose PURE: Process sUpervised Reinforcement lEarning. The key innovation of PURE is a min-form credit assignment that formulates the value function as the minimum of future rewards. This method significantly alleviates reward hacking by limiting the value function range and distributing advantages more reasonably. Through extensive experiments on 3 base models, we show that PRM-based approaches enabling min-form credit assignment achieve comparable reasoning performance to verifiable reward-based methods within only 30% steps. In contrast, the canonical sum-form credit assignment collapses training even at the beginning! Additionally, when we supplement PRM-based fine-tuning with just 10% verifiable rewards, we further alleviate reward hacking and produce the best fine-tuned model based on Qwen2.5-Math-7B in our experiments, achieving 82.5% accuracy on AMC23 and 53.3% average accuracy across 5 benchmarks. Moreover, we summarize the observed reward hacking cases and analyze the causes of training collapse. Code and models are available at https://github.com/CJReinforce/PURE.

Reinforcement learning from human feedback (RLHF) has demonstrated effectiveness in aligning large language models (LLMs) with human preferences. However, token-level RLHF suffers from the credit assignment problem over long sequences, where delayed rewards make it challenging for the model to discern which actions contributed to successful outcomes. This hinders learning efficiency and slows convergence. In this paper, we propose MA-RLHF, a simple yet effective RLHF framework that incorporates macro actions -- sequences of tokens or higher-level language constructs -- into the learning process. By operating at this higher level of abstraction, our approach reduces the temporal distance between actions and rewards, facilitating faster and more accurate credit assignment. This results in more stable policy gradient estimates and enhances learning efficiency within each episode, all without increasing computational complexity during training or inference. We validate our approach through extensive experiments across various model sizes and tasks, including text summarization, dialogue generation, question answering, and program synthesis. Our method achieves substantial performance improvements over standard RLHF, with performance gains of up to 30% in text summarization and code generation, 18% in dialogue, and 8% in question answering tasks. Notably, our approach reaches parity with vanilla RLHF 1.7x to 2x faster in terms of training time and continues to outperform it with further training. We will make our code and data publicly available at https://github.com/ernie-research/MA-RLHF .

Reinforcement learning from human feedback (RLHF) offers a promising approach to aligning large language models (LLMs) with human preferences. Typically, a reward model is trained or supplied to act as a proxy for humans in evaluating generated responses during the reinforcement training phase. However, current reward models operate as sequence-to-one models, allocating a single, sparse, and delayed reward to an entire output sequence. This approach may overlook the significant contributions of individual tokens toward the desired outcome. To this end, we propose a more fine-grained, token-level guidance approach for RL training. Specifically, we introduce RED, a novel reward redistribition method that evaluates and assigns specific credit to each token using an off-the-shelf reward model. Utilizing these fine-grained rewards enhances the model's understanding of language nuances, leading to more precise performance improvements. Notably, our method does not require modifying the reward model or introducing additional training steps, thereby incurring minimal computational costs. Experimental results across diverse datasets and tasks demonstrate the superiority of our approach.

Task allocation is a key combinatorial optimization problem, crucial for modern applications such as multi-robot cooperation and resource scheduling. Decision makers must allocate entities to tasks reasonably across different scenarios. However, traditional methods assume static attributes and numbers of tasks and entities, often relying on dynamic programming and heuristic algorithms for solutions. In reality, task allocation resembles Markov decision processes, with dynamically changing task and entity attributes. Thus, algorithms must dynamically allocate tasks based on their states. To address this issue, we propose a two-stage task allocation algorithm based on similarity, utilizing reinforcement learning to learn allocation strategies. The proposed pre-assign strategy allows entities to preselect appropriate tasks, effectively avoiding local optima and thereby better finding the optimal allocation. We also introduce an attention mechanism and a hyperparameter network structure to adapt to the changing number and attributes of entities and tasks, enabling our network structure to generalize to new tasks. Experimental results across multiple environments demonstrate that our algorithm effectively addresses the challenges of dynamic task allocation in practical applications. Compared to heuristic algorithms like genetic algorithms, our reinforcement learning approach better solves dynamic allocation problems and achieves zero-shot generalization to new tasks with good performance. The code is available at https://github.com/yk7333/TaskAllocation.

We study the incentivized information acquisition problem, where a principal hires an agent to gather information on her behalf. Such a problem is modeled as a Stackelberg game between the principal and the agent, where the principal announces a scoring rule that specifies the payment, and then the agent then chooses an effort level that maximizes her own profit and reports the information. We study the online setting of such a problem from the principal's perspective, i.e., designing the optimal scoring rule by repeatedly interacting with the strategic agent. We design a provably sample efficient algorithm that tailors the UCB algorithm (Auer et al., 2002) to our model, which achieves a sublinear T^{2/3}-regret after T iterations. Our algorithm features a delicate estimation procedure for the optimal profit of the principal, and a conservative correction scheme that ensures the desired agent's actions are incentivized. Furthermore, a key feature of our regret bound is that it is independent of the number of states of the environment.

Retrieval-augmented generation (RAG) systems face a fundamental challenge in aligning independently developed retrievers and large language models (LLMs). Existing approaches typically involve modifying either component or introducing simple intermediate modules, resulting in practical limitations and sub-optimal performance. Inspired by human search behavior -- typically involving a back-and-forth process of proposing search queries and reviewing documents, we propose C-3PO, a proxy-centric framework that facilitates communication between retrievers and LLMs through a lightweight multi-agent system. Our framework implements three specialized agents that collaboratively optimize the entire RAG pipeline without altering the retriever and LLMs. These agents work together to assess the need for retrieval, generate effective queries, and select information suitable for the LLMs. To enable effective multi-agent coordination, we develop a tree-structured rollout approach for reward credit assignment in reinforcement learning. Extensive experiments in both in-domain and out-of-distribution scenarios demonstrate that C-3PO significantly enhances RAG performance while maintaining plug-and-play flexibility and superior generalization capabilities.

Reinforcement learning from human feedback (RLHF) has been crucial in aligning large language models (LLMs) with human values. Traditionally, RLHF involves generating responses to a query and using a reward model to assign a reward to the entire response. However, this approach faces challenges due to its reliance on a single, sparse reward, which makes it challenging for the model to identify which parts of the sequence contribute most significantly to the final reward. Recent methods have attempted to address this limitation by introducing token-level rewards. However, these methods often rely on either a trained credit assignment model or AI annotators, raising concerns about the quality and reliability of the rewards. In this paper, we propose token-level reward regularization (T-REG), a novel approach that leverages both sequence-level and token-level rewards for preference optimization. Harnessing the self-refinement capabilities of LLMs, our method uses contrastive prompting to enable LLMs to self-generate token-level rewards. These self-generated rewards then act as reward regularization, guiding the model to more effectively distribute sequence-level rewards across tokens. This facilitates better token-level credit assignment and enhances alignment performance. Experiments on the instruction following benchmarks, including Alpaca Eval 2 and Arena-Hard, show that our method consistently outperforms baseline methods by up to 3.8% and 4.4%, respectively. We will release the code and models at https://github.com/wzhouad/T-REG.

Combinatorial optimization (CO) problems are often NP-hard and thus out of reach for exact algorithms, making them a tempting domain to apply machine learning methods. The highly structured constraints in these problems can hinder either optimization or sampling directly in the solution space. On the other hand, GFlowNets have recently emerged as a powerful machinery to efficiently sample from composite unnormalized densities sequentially and have the potential to amortize such solution-searching processes in CO, as well as generate diverse solution candidates. In this paper, we design Markov decision processes (MDPs) for different combinatorial problems and propose to train conditional GFlowNets to sample from the solution space. Efficient training techniques are also developed to benefit long-range credit assignment. Through extensive experiments on a variety of different CO tasks with synthetic and realistic data, we demonstrate that GFlowNet policies can efficiently find high-quality solutions.

Decentralized Finance (DeFi), a financial ecosystem without centralized controlling organization, has introduced a new paradigm for lending and borrowing. However, its capital efficiency remains constrained by the inability to effectively assess the risk associated with each user/wallet. This paper introduces the 'On-Chain Credit Risk Score (OCCR Score) in DeFi', a probabilistic measure designed to quantify the credit risk associated with a wallet. By analyzing historical real-time on-chain activity as well as predictive scenarios, the OCCR Score may enable DeFi lending protocols to dynamically adjust Loan-to-Value (LTV) ratios and Liquidation Thresholds (LT) based on the risk profile of a wallet. Unlike existing wallet risk scoring models, which rely on heuristic-based evaluations, the OCCR Score offers a more objective and probabilistic approach, aligning closer to traditional credit risk assessment methodologies. This framework can further enhance DeFi's capital efficiency by incentivizing responsible borrowing behavior and optimizing risk-adjusted returns for lenders.

Understanding a student's problem-solving strategy can have a significant impact on effective math learning using Intelligent Tutoring Systems (ITSs) and Adaptive Instructional Systems (AISs). For instance, the ITS/AIS can better personalize itself to correct specific misconceptions that are indicated by incorrect strategies, specific problems can be designed to improve strategies and frustration can be minimized by adapting to a student's natural way of thinking rather than trying to fit a standard strategy for all. While it may be possible for human experts to identify strategies manually in classroom settings with sufficient student interaction, it is not possible to scale this up to big data. Therefore, we leverage advances in Machine Learning and AI methods to perform scalable strategy prediction that is also fair to students at all skill levels. Specifically, we develop an embedding called MVec where we learn a representation based on the mastery of students. We then cluster these embeddings with a non-parametric clustering method where we progressively learn clusters such that we group together instances that have approximately symmetrical strategies. The strategy prediction model is trained on instances sampled from these clusters. This ensures that we train the model over diverse strategies and also that strategies from a particular group do not bias the DNN model, thus allowing it to optimize its parameters over all groups. Using real world large-scale student interaction datasets from MATHia, we implement our approach using transformers and Node2Vec for learning the mastery embeddings and LSTMs for predicting strategies. We show that our approach can scale up to achieve high accuracy by training on a small sample of a large dataset and also has predictive equality, i.e., it can predict strategies equally well for learners at diverse skill levels.

Machine learning has opened up new tools for financial fraud detection. Using a sample of annotated transactions, a machine learning classification algorithm learns to detect frauds. With growing credit card transaction volumes and rising fraud percentages there is growing interest in finding appropriate machine learning classifiers for detection. However, fraud data sets are diverse and exhibit inconsistent characteristics. As a result, a model effective on a given data set is not guaranteed to perform on another. Further, the possibility of temporal drift in data patterns and characteristics over time is high. Additionally, fraud data has massive and varying imbalance. In this work, we evaluate sampling methods as a viable pre-processing mechanism to handle imbalance and propose a data-driven classifier selection strategy for characteristic highly imbalanced fraud detection data sets. The model derived based on our selection strategy surpasses peer models, whilst working in more realistic conditions, establishing the effectiveness of the strategy.

Large Language Reasoning Models have demonstrated remarkable success on static tasks, yet their application to multi-round agentic planning in interactive environments faces two fundamental challenges. First, the intractable credit assignment problem renders conventional reinforcement learning ineffective in sparse-reward settings. Second, the computational overhead of verbose, step-by-step reasoning histories is prohibitive. To address these challenges, we propose BPO, a three-stage framework (bootstrapping, extrapolation, and refinement) that establishes a self-improving data flywheel to develop robust reasoning models for long-horizon, sparse-reward environments. Our framework first bootstraps efficient reasoning using the proposed planning quaternions with long-short chain-of-thought fusion. It then extrapolates to out-of-distribution tasks through complexity-stratified curriculum learning. Finally, the model iteratively refines itself by learning exclusively on experiences selected via reward-gated rejection sampling. Experiments on ALFWorld, ScienceWorld, and WebShop demonstrate that our approach achieves state-of-the-art with significant token efficiency, providing a new recipe for reasoning models in agentic planning.

Deep research systems, agentic AI that solve complex, multi-step tasks by coordinating reasoning, search across the open web and user files, and tool use, are moving toward hierarchical deployments with a Planner, Coordinator, and Executors. In practice, training entire stacks end-to-end remains impractical, so most work trains a single planner connected to core tools such as search, browsing, and code. While SFT imparts protocol fidelity, it suffers from imitation and exposure biases and underuses environment feedback. Preference alignment methods such as DPO are schema and proxy-dependent, off-policy, and weak for long-horizon credit assignment and multi-objective trade-offs. A further limitation of SFT and DPO is their reliance on human defined decision points and subskills through schema design and labeled comparisons. Reinforcement learning aligns with closed-loop, tool-interaction research by optimizing trajectory-level policies, enabling exploration, recovery behaviors, and principled credit assignment, and it reduces dependence on such human priors and rater biases. This survey is, to our knowledge, the first dedicated to the RL foundations of deep research systems. It systematizes work after DeepSeek-R1 along three axes: (i) data synthesis and curation; (ii) RL methods for agentic research covering stability, sample efficiency, long context handling, reward and credit design, multi-objective optimization, and multimodal integration; and (iii) agentic RL training systems and frameworks. We also cover agent architecture and coordination, as well as evaluation and benchmarks, including recent QA, VQA, long-form synthesis, and domain-grounded, tool-interaction tasks. We distill recurring patterns, surface infrastructure bottlenecks, and offer practical guidance for training robust, transparent deep research agents with RL.

This paper investigates the problem of ensembling multiple strategies for sequential portfolios to outperform individual strategies in terms of long-term wealth. Due to the uncertainty of strategies' performances in the future market, which are often based on specific models and statistical assumptions, investors often mitigate risk and enhance robustness by combining multiple strategies, akin to common approaches in collective learning prediction. However, the absence of a distribution-free and consistent preference framework complicates decisions of combination due to the ambiguous objective. To address this gap, we introduce a novel framework for decision-making in combining strategies, irrespective of market conditions, by establishing the investor's preference between decisions and then forming a clear objective. Through this framework, we propose a combinatorial strategy construction, free from statistical assumptions, for any scale of component strategies, even infinite, such that it meets the determined criterion. Finally, we test the proposed strategy along with its accelerated variant and some other multi-strategies. The numerical experiments show results in favor of the proposed strategies, albeit with small tradeoffs in their Sharpe ratios, in which their cumulative wealths eventually exceed those of the best component strategies while the accelerated strategy significantly improves performance.

In this paper, we introduce a novel predict-and-optimize method for profit-driven churn prevention. We frame the task of targeting customers for a retention campaign as a regret minimization problem. The main objective is to leverage individual customer lifetime values (CLVs) to ensure that only the most valuable customers are targeted. In contrast, many profit-driven strategies focus on churn probabilities while considering average CLVs. This often results in significant information loss due to data aggregation. Our proposed model aligns with the guidelines of Predict-and-Optimize (PnO) frameworks and can be efficiently solved using stochastic gradient descent methods. Results from 12 churn prediction datasets underscore the effectiveness of our approach, which achieves the best average performance compared to other well-established strategies in terms of average profit.

This paper introduces a novel Hamiltonian-inspired neural network approach to credit scoring, designed to address the challenges of class imbalance and out-of-time (OOT) prediction in financial risk management. Drawing from concepts in Hamiltonian mechanics, we develop a symplectic optimizer and a new loss function to capture the complex dynamics of credit risk evolution. Using the Freddie Mac Single-Family Loan-Level Dataset, we evaluate our model's performance against other machine learning approaches. Our method shows superior discriminative power in OOT scenarios, as measured by the Area Under the Curve (AUC), indicating better ranking ability and robustness to class imbalance. The Hamiltonian-inspired approach shows particular strength in maintaining consistent performance between in-sample and OOT test sets, suggesting improved generalization to future, unseen data. These findings suggest that physics-inspired techniques offer a promising direction for developing more robust and reliable credit scoring models, particularly in uncertain economic situations.

Reinforcement Learning From Human Feedback (RLHF) has been a critical to the success of the latest generation of generative AI models. In response to the complex nature of the classical RLHF pipeline, direct alignment algorithms such as Direct Preference Optimization (DPO) have emerged as an alternative approach. Although DPO solves the same objective as the standard RLHF setup, there is a mismatch between the two approaches. Standard RLHF deploys reinforcement learning in a specific token-level MDP, while DPO is derived as a bandit problem in which the whole response of the model is treated as a single arm. In this work we rectify this difference, first we theoretically show that we can derive DPO in the token-level MDP as a general inverse Q-learning algorithm, which satisfies the Bellman equation. Using our theoretical results, we provide three concrete empirical insights. First, we show that because of its token level interpretation, DPO is able to perform some type of credit assignment. Next, we prove that under the token level formulation, classical search-based algorithms, such as MCTS, which have recently been applied to the language generation space, are equivalent to likelihood-based search on a DPO policy. Empirically we show that a simple beam search yields meaningful improvement over the base DPO policy. Finally, we show how the choice of reference policy causes implicit rewards to decline during training. We conclude by discussing applications of our work, including information elicitation in multi-tun dialogue, reasoning, agentic applications and end-to-end training of multi-model systems.

Large Language Models (LLMs) have achieved remarkable progress in reasoning, yet sometimes produce responses that are suboptimal for users in tasks such as writing, information seeking, or providing practical guidance. Conventional alignment practices typically assume that maximizing model reward also maximizes user welfare, but this assumption frequently fails in practice: models may over-clarify or generate overly verbose reasoning when users prefer concise answers. Such behaviors resemble the prisoner's dilemma, where individually rational choices lead to socially suboptimal outcomes. The fundamental challenge is the lack of a principled decision making mechanism that mutually benefits both the LLM and the user. We propose Game-Theoretic Alignment (GTAlign), an alignment framework that integrates game-theoretic decision making into both reasoning and training. During reasoning, the model explicitly treats user-LLM interaction as a strategic game: it constructs payoff matrices within its reasoning chain to estimate welfare for both itself and the user, and then selects actions that are mutually beneficial. During training, we introduce a mutual welfare reward that reinforces cooperative responses, aligning model behavior with socially efficient outcomes. In addition, we introduce an inference technique that leverages game-theoretic reasoning to dynamically adapt LLM's response when pricing policies of LLM service change. Extensive experiments demonstrate that GTAlign substantially improves reasoning efficiency, answer quality, and mutual welfare compared to baselines across diverse tasks. The code is available at https://github.com/ulab-uiuc/GTAlign .

Ensuring sufficient exploration is a central challenge when training meta-reinforcement learning (meta-RL) agents to solve novel environments. Conventional solutions to the exploration-exploitation dilemma inject explicit incentives such as randomization, uncertainty bonuses, or intrinsic rewards to encourage exploration. In this work, we hypothesize that an agent trained solely to maximize a greedy (exploitation-only) objective can nonetheless exhibit emergent exploratory behavior, provided three conditions are met: (1) Recurring Environmental Structure, where the environment features repeatable regularities that allow past experience to inform future choices; (2) Agent Memory, enabling the agent to retain and utilize historical interaction data; and (3) Long-Horizon Credit Assignment, where learning propagates returns over a time frame sufficient for the delayed benefits of exploration to inform current decisions. Through experiments in stochastic multi-armed bandits and temporally extended gridworlds, we observe that, when both structure and memory are present, a policy trained on a strictly greedy objective exhibits information-seeking exploratory behavior. We further demonstrate, through controlled ablations, that emergent exploration vanishes if either environmental structure or agent memory is absent (Conditions 1 & 2). Surprisingly, removing long-horizon credit assignment (Condition 3) does not always prevent emergent exploration-a result we attribute to the pseudo-Thompson Sampling effect. These findings suggest that, under the right prerequisites, exploration and exploitation need not be treated as orthogonal objectives but can emerge from a unified reward-maximization process.

We study a strategic variant of the multi-armed bandit problem, which we coin the strategic click-bandit. This model is motivated by applications in online recommendation where the choice of recommended items depends on both the click-through rates and the post-click rewards. Like in classical bandits, rewards follow a fixed unknown distribution. However, we assume that the click-rate of each arm is chosen strategically by the arm (e.g., a host on Airbnb) in order to maximize the number of times it gets clicked. The algorithm designer does not know the post-click rewards nor the arms' actions (i.e., strategically chosen click-rates) in advance, and must learn both values over time. To solve this problem, we design an incentive-aware learning algorithm, UCB-S, which achieves two goals simultaneously: (a) incentivizing desirable arm behavior under uncertainty; (b) minimizing regret by learning unknown parameters. We characterize all approximate Nash equilibria among arms under UCB-S and show a mathcal{O} (KT) regret bound uniformly in every equilibrium. We also show that incentive-unaware algorithms generally fail to achieve low regret in the strategic click-bandit. Finally, we support our theoretical results by simulations of strategic arm behavior which confirm the effectiveness and robustness of our proposed incentive design.

Large pretrained models are showing increasingly better performance in reasoning and planning tasks across different modalities, opening the possibility to leverage them for complex sequential decision making problems. In this paper, we investigate the capabilities of Large Language Models (LLMs) for reinforcement learning (RL) across a diversity of interactive domains. We evaluate their ability to produce decision-making policies, either directly, by generating actions, or indirectly, by first generating reward models to train an agent with RL. Our results show that, even without task-specific fine-tuning, LLMs excel at reward modeling. In particular, crafting rewards through artificial intelligence (AI) feedback yields the most generally applicable approach and can enhance performance by improving credit assignment and exploration. Finally, in environments with unfamiliar dynamics, we explore how fine-tuning LLMs with synthetic data can significantly improve their reward modeling capabilities while mitigating catastrophic forgetting, further broadening their utility in sequential decision-making tasks.

In this work we build a stack of machine learning models aimed at composing a state-of-the-art credit rating and default prediction system, obtaining excellent out-of-sample performances. Our approach is an excursion through the most recent ML / AI concepts, starting from natural language processes (NLP) applied to economic sectors' (textual) descriptions using embedding and autoencoders (AE), going through the classification of defaultable firms on the base of a wide range of economic features using gradient boosting machines (GBM) and calibrating their probabilities paying due attention to the treatment of unbalanced samples. Finally we assign credit ratings through genetic algorithms (differential evolution, DE). Model interpretability is achieved by implementing recent techniques such as SHAP and LIME, which explain predictions locally in features' space.

Flow-based generative models have shown remarkable success in text-to-image generation, yet fine-tuning them with intermediate feedback remains challenging, especially for continuous-time flow matching models. Most existing approaches solely learn from outcome rewards, struggling with the credit assignment problem. Alternative methods that attempt to learn a critic via direct regression on cumulative rewards often face training instabilities and model collapse in online settings. We present AC-Flow, a robust actor-critic framework that addresses these challenges through three key innovations: (1) reward shaping that provides well-normalized learning signals to enable stable intermediate value learning and gradient control, (2) a novel dual-stability mechanism that combines advantage clipping to prevent destructive policy updates with a warm-up phase that allows the critic to mature before influencing the actor, and (3) a scalable generalized critic weighting scheme that extends traditional reward-weighted methods while preserving model diversity through Wasserstein regularization. Through extensive experiments on Stable Diffusion 3, we demonstrate that AC-Flow achieves state-of-the-art performance in text-to-image alignment tasks and generalization to unseen human preference models. Our results demonstrate that even with a computationally efficient critic model, we can robustly finetune flow models without compromising generative quality, diversity, or stability.

Most existing chain-of-thought (CoT) prompting methods suffer from the issues of generalizability and consistency, as they often rely on instance-specific solutions that may not be applicable to other cases and lack task-level consistency in their reasoning steps. To address these limitations, we propose a comprehensive framework, StrategyLLM, harnessing the capabilities of LLMs to construct generalizable and consistent few-shot prompts for various tasks automatically. To this end, StrategyLLM employs four LLM-based agents: strategy generator, executor, optimizer, and evaluator, working together to generate, evaluate, and select promising strategies for a given task. The experimental results demonstrate that StrategyLLM outperforms the competitive baseline CoT-SC that requires human-annotated solutions on 13 datasets across 4 challenging tasks without human involvement, including math reasoning (34.21% rightarrow 38.79%), commonsense reasoning (70.3% rightarrow 72.5%), algorithmic reasoning (51.7% rightarrow 62.0%), and symbolic reasoning (30.0% rightarrow 79.2%).

Sequential decision-making agents struggle with long horizon tasks, since solving them requires multi-step reasoning. Most reinforcement learning (RL) algorithms address this challenge by improved credit assignment, introducing memory capability, altering the agent's intrinsic motivation (i.e. exploration) or its worldview (i.e. knowledge representation). Many of these components could be learned from offline data. In this work, we follow the hypothesis that exploration and representation learning can be improved by separately learning two different models from a single offline dataset. We show that learning a state representation using noise-contrastive estimation and a model of auxiliary reward separately from a single collection of human demonstrations can significantly improve the sample efficiency on the challenging NetHack benchmark. We also ablate various components of our experimental setting and highlight crucial insights.

Bank credit risk is a significant challenge in modern financial transactions, and the ability to identify qualified credit card holders among a large number of applicants is crucial for the profitability of a bank'sbank's credit card business. In the past, screening applicants'applicants' conditions often required a significant amount of manual labor, which was time-consuming and labor-intensive. Although the accuracy and reliability of previously used ML models have been continuously improving, the pursuit of more reliable and powerful AI intelligent models is undoubtedly the unremitting pursuit by major banks in the financial industry. In this study, we used a dataset of over 40,000 records provided by a commercial bank as the research object. We compared various dimensionality reduction techniques such as PCA and T-SNE for preprocessing high-dimensional datasets and performed in-depth adaptation and tuning of distributed models such as LightGBM and XGBoost, as well as deep models like Tabnet. After a series of research and processing, we obtained excellent research results by combining SMOTEENN with these techniques. The experiments demonstrated that LightGBM combined with PCA and SMOTEENN techniques can assist banks in accurately predicting potential high-quality customers, showing relatively outstanding performance compared to other models.

As the application space of language models continues to evolve, a natural question to ask is how we can quickly adapt models to new tasks. We approach this classic question from a continual learning perspective, in which we aim to continue fine-tuning models trained on past tasks on new tasks, with the goal of "transferring" relevant knowledge. However, this strategy also runs the risk of doing more harm than good, i.e., negative transfer. In this paper, we construct a new benchmark of task sequences that target different possible transfer scenarios one might face, such as a sequence of tasks with high potential of positive transfer, high potential for negative transfer, no expected effect, or a mixture of each. An ideal learner should be able to maximally exploit information from all tasks that have any potential for positive transfer, while also avoiding the negative effects of any distracting tasks that may confuse it. We then propose a simple, yet effective, learner that satisfies many of our desiderata simply by leveraging a selective strategy for initializing new models from past task checkpoints. Still, limitations remain, and we hope this benchmark can help the community to further build and analyze such learners.

When users can benefit from certain predictive outcomes, they may be prone to act to achieve those outcome, e.g., by strategically modifying their features. The goal in strategic classification is therefore to train predictive models that are robust to such behavior. However, the conventional framework assumes that changing features does not change actual outcomes, which depicts users as "gaming" the system. Here we remove this assumption, and study learning in a causal strategic setting where true outcomes do change. Focusing on accuracy as our primary objective, we show how strategic behavior and causal effects underlie two complementing forms of distribution shift. We characterize these shifts, and propose a learning algorithm that balances between these two forces and over time, and permits end-to-end training. Experiments on synthetic and semi-synthetic data demonstrate the utility of our approach.

Scaling test-time compute is crucial for enhancing the reasoning capabilities of large language models (LLMs). Existing approaches typically employ reinforcement learning (RL) to maximize a verifiable reward obtained at the end of reasoning traces. However, such methods optimize only the final performance under a large and fixed token budget, which hinders efficiency in both training and deployment. In this work, we present a novel framework, AnytimeReasoner, to optimize anytime reasoning performance, which aims to improve token efficiency and the flexibility of reasoning under varying token budget constraints. To achieve this, we truncate the complete thinking process to fit within sampled token budgets from a prior distribution, compelling the model to summarize the optimal answer for each truncated thinking for verification. This introduces verifiable dense rewards into the reasoning process, facilitating more effective credit assignment in RL optimization. We then optimize the thinking and summary policies in a decoupled manner to maximize the cumulative reward. Additionally, we introduce a novel variance reduction technique, Budget Relative Policy Optimization (BRPO), to enhance the robustness and efficiency of the learning process when reinforcing the thinking policy. Empirical results in mathematical reasoning tasks demonstrate that our method consistently outperforms GRPO across all thinking budgets under various prior distributions, enhancing both training and token efficiency.

In precision-oriented tasks like answer ranking, it is more important to rank many relevant answers highly than to retrieve all relevant answers. It follows that a good ranking strategy would be to learn how to identify the easiest correct answers first (i.e., assign a high ranking score to answers that have characteristics that usually indicate relevance, and a low ranking score to those with characteristics that do not), before incorporating more complex logic to handle difficult cases (e.g., semantic matching or reasoning). In this work, we apply this idea to the training of neural answer rankers using curriculum learning. We propose several heuristics to estimate the difficulty of a given training sample. We show that the proposed heuristics can be used to build a training curriculum that down-weights difficult samples early in the training process. As the training process progresses, our approach gradually shifts to weighting all samples equally, regardless of difficulty. We present a comprehensive evaluation of our proposed idea on three answer ranking datasets. Results show that our approach leads to superior performance of two leading neural ranking architectures, namely BERT and ConvKNRM, using both pointwise and pairwise losses. When applied to a BERT-based ranker, our method yields up to a 4% improvement in MRR and a 9% improvement in P@1 (compared to the model trained without a curriculum). This results in models that can achieve comparable performance to more expensive state-of-the-art techniques.

Recent work on enhancing the reasoning abilities of large language models (LLMs) has introduced explicit length control as a means of constraining computational cost while preserving accuracy. However, existing approaches rely on fixed-length training budgets, which do not take advantage of the natural progression from exploration to compression during learning. In this work, we propose a curriculum learning strategy for length-controlled reasoning using Group Relative Policy Optimization (GRPO). Our method starts with generous token budgets and gradually tightens them over training, encouraging models to first discover effective solution strategies and then distill them into more concise reasoning traces. We augment GRPO with a reward function that balances three signals: task correctness (via verifier feedback), length efficiency, and formatting adherence (via structural tags). Experiments on GSM8K, MATH500, SVAMP, College Math, and GSM+ demonstrate that curriculum-based training consistently outperforms fixed-budget baselines at the same final budget, achieving higher accuracy and significantly improved token efficiency. We further ablate the impact of reward weighting and decay schedule design, showing that progressive constraint serves as a powerful inductive bias for training efficient reasoning models. Our code and checkpoints are released at: https://github.com/hammoudhasan/curriculum_grpo.

Aligning large language models with human objectives is paramount, yet common approaches including RLHF suffer from unstable and resource-intensive training. In response to this challenge, we introduce ARGS, Alignment as Reward-Guided Search, a novel framework that integrates alignment into the decoding process, eliminating the need for expensive RL training. By adjusting the model's probabilistic predictions using a reward signal, ARGS generates texts with semantic diversity while being aligned with human preferences, offering a promising and flexible solution for aligning language models. Notably, ARGS demonstrates consistent enhancements in average reward compared to baselines across diverse alignment tasks and various model dimensions. For example, under the same greedy-based decoding strategy, our method improves the average reward by 19.56% relative to the baseline and secures a preference or tie score of 64.33% in GPT-4 evaluation. We believe that our framework, emphasizing decoding-time alignment, paves the way for more responsive language models in the future. Code is publicly available at: https://github.com/deeplearning-wisc/args.

Reinforcement learning improves LLM reasoning, yet sparse delayed reward over long sequences makes token-level credit assignment the key bottleneck. We study the verifiable-reward setting, where the final answer is checkable and multiple responses can be drawn per prompt. Reasoning tasks in math and medical QA align with this setup, where only a few decision tokens significantly impact the outcome. PPO offers token-level advantages with a learned value model, but it is complex to train both the actor and critic models simultaneously, and it is not easily generalizable, as the token-level values from the critic model can make training prone to overfitting. GRPO is critic-free and supports verifiable rewards, but spreads a single sequence-level return across tokens and ignores branching. We introduce Prefix-to-Tree (P2T), a simple procedure that converts a group of responses into a prefix tree and computes nonparametric prefix values \(V(s)\) by aggregating descendant outcomes. Built on P2T, we propose TEMPO (\textbf{Tree-Estimated Mean Prefix Value for Policy Optimization}), a critic-free algorithm that augments the group-relative outcome signal of GRPO with branch-gated temporal-difference corrections derived from the tree. At non-branch tokens, the temporal-difference (TD) term is zero, so TEMPO reduces to GRPO; at branching tokens, it supplies precise token-level credit without a learned value network or extra judges/teachers. On Qwen3-1.7B/4B, TEMPO outperforms PPO and GRPO on in-distribution (MATH, MedQA) and out-of-distribution (GSM-HARD, AMC23, MedMCQA, MMLU-Medical) benchmarks, and reaches higher validation accuracy with roughly the same wall-clock time.

Language models as intelligent agents push the boundaries of sequential decision-making agents but struggle with limited knowledge of environmental dynamics and exponentially huge action space. Recent efforts like GLAM and TWOSOME manually constrain the action space to a restricted subset and employ reinforcement learning to align agents' knowledge with specific environments. However, they overlook fine-grained credit assignments for intra-action tokens, which is essential for efficient language agent optimization, and rely on human's prior knowledge to restrict action space. This paper proposes decomposing language agent optimization from the action level to the token level, offering finer supervision for each intra-action token and manageable optimization complexity in environments with unrestricted action spaces. Beginning with the simplification of flattening all actions, we theoretically explore the discrepancies between action-level optimization and this naive token-level optimization. We then derive the Bellman backup with Action Decomposition (BAD) to integrate credit assignments for both intra-action and inter-action tokens, effectively eliminating the discrepancies. Implementing BAD within the PPO algorithm, we introduce Policy Optimization with Action Decomposition (POAD). POAD benefits from a finer-grained credit assignment process and lower optimization complexity, leading to enhanced learning efficiency and generalization abilities in aligning language agents with interactive environments. We validate POAD across diverse testbeds, with results affirming the advantages of our approach and the correctness of our theoretical analysis.

Current reinforcement learning from human feedback (RLHF) pipelines for large language model (LLM) alignment typically assign scalar rewards to sequences, using the final token as a surrogate indicator for the quality of the entire sequence. However, this leads to sparse feedback and suboptimal token-level credit assignment. In this work, we frame reward shaping as an optimization problem focused on token-level credit assignment. We propose a reward-shaping function leveraging explainability methods such as SHAP and LIME to estimate per-token rewards from the reward model. To learn parameters of this shaping function, we employ a bilevel optimization framework that integrates Bayesian Optimization and policy training to handle noise from the token reward estimates. Our experiments show that achieving a better balance of token-level reward attribution leads to performance improvements over baselines on downstream tasks and finds an optimal policy faster during training. Furthermore, we show theoretically that explainability methods that are feature additive attribution functions maintain the optimal policy as the original reward.

Process Reward Models (PRMs) aim to improve multi-step reasoning in Large Language Models (LLMs) by supervising intermediate steps and identifying errors. However, building effective PRMs remains challenging due to the lack of scalable, high-quality annotations. Existing approaches rely on costly human labeling, LLM-based self-evaluation that is prone to hallucination, or Monte Carlo (MC) estimation, which infers step quality solely from rollout outcomes and often introduces noisy, misaligned supervision due to credit misattribution. These issues result in three core limitations: noisy rewards, low factual fidelity, and misalignment with step-level reasoning objectives. To address these challenges, we introduce GroundedPRM, a tree-guided and fidelity-aware framework for automatic process supervision. To reduce reward noise and enable fine-grained credit assignment, we construct structured reasoning paths via Monte Carlo Tree Search (MCTS). To eliminate hallucinated supervision, we validate each intermediate step using an external tool, providing execution-grounded correctness signals. To combine both step-level validation and global outcome assessment, we design a hybrid reward aggregation mechanism that fuses tool-based verification with MCTS-derived feedback. Finally, we format the reward signal into a rationale-enhanced, generative structure to promote interpretability and compatibility with instruction-tuned LLMs. GroundedPRM is trained on only 40K automatically labeled samples, amounting to just 10% of the data used by the best-performing PRM trained with auto-labeled supervision. Nevertheless, it achieves up to a 26% relative improvement in average performance on ProcessBench. When used for reward-guided greedy search, GroundedPRM outperforms even PRMs trained with human-labeled supervision, offering a scalable and verifiable path toward high-quality process-level reasoning.

A broad use case of large language models (LLMs) is in goal-directed decision-making tasks (or "agent" tasks), where an LLM needs to not just generate completions for a given prompt, but rather make intelligent decisions over a multi-turn interaction to accomplish a task (e.g., when interacting with the web, using tools, or providing customer support). Reinforcement learning (RL) provides a general paradigm to address such agent tasks, but current RL methods for LLMs largely focus on optimizing single-turn rewards. By construction, most single-turn RL methods cannot endow LLMs with the ability to intelligently seek information over multiple turns, perform credit assignment, or reason about their past actions -- all of which are critical in agent tasks. This raises the question: how can we design effective and efficient multi-turn RL algorithms for LLMs? In this paper, we develop a framework for building multi-turn RL algorithms for fine-tuning LLMs, that preserves the flexibility of existing single-turn RL methods for LLMs (e.g., proximal policy optimization), while accommodating multiple turns, long horizons, and delayed rewards effectively. To do this, our framework adopts a hierarchical RL approach and runs two RL algorithms in parallel: a high-level off-policy value-based RL algorithm to aggregate reward over utterances, and a low-level RL algorithm that utilizes this high-level value function to train a token policy within each utterance or turn. Our hierarchical framework, Actor-Critic Framework with a Hierarchical Structure (ArCHer), can also give rise to other RL methods. Empirically, we find that ArCHer significantly improves efficiency and performance on agent tasks, attaining a sample efficiency of about 100x over existing methods, while also improving with larger model capacity (upto the 7 billion scale that we tested on).

Machine learning models are often used to decide who will receive a loan, a job interview, or a public benefit. Standard techniques to build these models use features about people but overlook their actionability. In turn, models can assign predictions that are fixed, meaning that consumers who are denied loans, interviews, or benefits may be permanently locked out from access to credit, employment, or assistance. In this work, we introduce a formal testing procedure to flag models that assign fixed predictions that we call recourse verification. We develop machinery to reliably determine if a given model can provide recourse to its decision subjects from a set of user-specified actionability constraints. We demonstrate how our tools can ensure recourse and adversarial robustness in real-world datasets and use them to study the infeasibility of recourse in real-world lending datasets. Our results highlight how models can inadvertently assign fixed predictions that permanently bar access, and we provide tools to design algorithms that account for actionability when developing models.

We utilize an offline reinforcement learning (RL) model for sequential targeted promotion in the presence of budget constraints in a real-world business environment. In our application, the mobile app aims to boost customer retention by sending cash bonuses to customers and control the costs of such cash bonuses during each time period. To achieve the multi-task goal, we propose the Budget Constrained Reinforcement Learning for Sequential Promotion (BCRLSP) framework to determine the value of cash bonuses to be sent to users. We first find out the target policy and the associated Q-values that maximizes the user retention rate using an RL model. A linear programming (LP) model is then added to satisfy the constraints of promotion costs. We solve the LP problem by maximizing the Q-values of actions learned from the RL model given the budget constraints. During deployment, we combine the offline RL model with the LP model to generate a robust policy under the budget constraints. Using both online and offline experiments, we demonstrate the efficacy of our approach by showing that BCRLSP achieves a higher long-term customer retention rate and a lower cost than various baselines. Taking advantage of the near real-time cost control method, the proposed framework can easily adapt to data with a noisy behavioral policy and/or meet flexible budget constraints.

Reinforcement Learning with Verifiable Rewards (RLVR) strengthens LLM reasoning, but training often oscillates between {entropy collapse} and {entropy explosion}. We trace both hazards to the mean baseline used in value-free RL (e.g., GRPO and DAPO), which improperly penalizes negative-advantage samples under reward outliers. We propose {Quantile Advantage Estimation} (QAE), replacing the mean with a group-wise K-quantile baseline. QAE induces a response-level, two-regime gate: on hard queries (p <= 1 - K) it reinforces rare successes, while on easy queries (p > 1 - K) it targets remaining failures. Under first-order softmax updates, we prove {two-sided entropy safety}, giving lower and upper bounds on one-step entropy change that curb explosion and prevent collapse. Empirically, this minimal modification stabilizes entropy, sparsifies credit assignment (with tuned K, roughly 80% of responses receive zero advantage), and yields sustained pass@1 gains on Qwen3-8B/14B-Base across AIME 2024/2025 and AMC 2023. These results identify {baseline design} -- rather than token-level heuristics -- as the primary mechanism for scaling RLVR.

We study an online learning problem in general-sum Stackelberg games, where players act in a decentralized and strategic manner. We study two settings depending on the type of information for the follower: (1) the limited information setting where the follower only observes its own reward, and (2) the side information setting where the follower has extra side information about the leader's reward. We show that for the follower, myopically best responding to the leader's action is the best strategy for the limited information setting, but not necessarily so for the side information setting -- the follower can manipulate the leader's reward signals with strategic actions, and hence induce the leader's strategy to converge to an equilibrium that is better off for itself. Based on these insights, we study decentralized online learning for both players in the two settings. Our main contribution is to derive last-iterate convergence and sample complexity results in both settings. Notably, we design a new manipulation strategy for the follower in the latter setting, and show that it has an intrinsic advantage against the best response strategy. Our theories are also supported by empirical results.

In this work, we explore the possibility of utilizing transfer learning techniques to address the financial portfolio optimization problem. We introduce a novel concept called "transfer risk", within the optimization framework of transfer learning. A series of numerical experiments are conducted from three categories: cross-continent transfer, cross-sector transfer, and cross-frequency transfer. In particular, 1. a strong correlation between the transfer risk and the overall performance of transfer learning methods is established, underscoring the significance of transfer risk as a viable indicator of "transferability"; 2. transfer risk is shown to provide a computationally efficient way to identify appropriate source tasks in transfer learning, enhancing the efficiency and effectiveness of the transfer learning approach; 3. additionally, the numerical experiments offer valuable new insights for portfolio management across these different settings.

Reinforcement Learning from Human Feedback (RLHF) has become a dominating strategy in steering Language Models (LMs) towards human values/goals. The key to the strategy is employing a reward model ({varphi}) which can reflect a latent reward model with humans. While this strategy has proven to be effective, the training methodology requires a lot of human preference annotation (usually of the order of tens of thousands) to train {varphi}. Such large-scale preference annotations can be achievable if the reward model can be ubiquitously used. However, human values/goals are subjective and depend on the nature of the task. This poses a challenge in collecting diverse preferences for downstream applications. To address this, we propose a novel methodology to infuse domain knowledge into {varphi}, which reduces the size of preference annotation required. We validate our approach in E-Commerce Opinion Summarization, with a significant reduction in dataset size (just 940 samples) while advancing the state-of-the-art. Our contributions include a novel Reward Modelling technique, a new dataset (PromptOpinSumm) for Opinion Summarization, and a human preference dataset (OpinPref). The proposed methodology opens avenues for efficient RLHF, making it more adaptable to diverse applications with varying human values. We release the artifacts for usage under MIT License.

Self-consistency (SC) has been a widely used decoding strategy for chain-of-thought reasoning. Despite bringing significant performance improvements across a variety of multi-step reasoning tasks, it is a high-cost method that requires multiple sampling with the preset size. In this paper, we propose a simple and scalable sampling process, Early-Stopping Self-Consistency (ESC), to greatly reduce the cost of SC without sacrificing performance. On this basis, one control scheme for ESC is further derivated to dynamically choose the performance-cost balance for different tasks and models. To demonstrate ESC's effectiveness, we conducted extensive experiments on three popular categories of reasoning tasks: arithmetic, commonsense and symbolic reasoning over language models with varying scales. The empirical results show that ESC reduces the average number of sampling of chain-of-thought reasoning by a significant margin on six benchmarks, including MATH (-33.8%), GSM8K (-80.1%), StrategyQA (-76.8%), CommonsenseQA (-78.5%), Coin Flip (-84.2%) and Last Letters (-67.4%), while attaining comparable performances.

Algorithmic trading requires short-term decisions aligned with long-term financial goals. While reinforcement learning (RL) has been explored for such tactical decisions, its adoption remains limited by myopic behavior and opaque policy rationale. In contrast, large language models (LLMs) have recently demonstrated strategic reasoning and multi-modal financial signal interpretation when guided by well-designed prompts. We propose a hybrid system where LLMs generate high-level trading strategies to guide RL agents in their actions. We evaluate (i) the rationale of LLM-generated strategies via expert review, and (ii) the Sharpe Ratio (SR) and Maximum Drawdown (MDD) of LLM-guided agents versus unguided baselines. Results show improved return and risk metrics over standard RL.

Machine learning models routinely automate decisions in applications like lending and hiring. In such settings, consumer protection rules require companies that deploy models to explain predictions to decision subjects. These rules are motivated, in part, by the belief that explanations can promote recourse by revealing information that individuals can use to contest or improve their outcomes. In practice, many companies comply with these rules by providing individuals with a list of the most important features for their prediction, which they identify based on feature importance scores from feature attribution methods such as SHAP or LIME. In this work, we show how these practices can undermine consumers by highlighting features that would not lead to an improved outcome and by explaining predictions that cannot be changed. We propose to address these issues by highlighting features based on their responsiveness score -- i.e., the probability that an individual can attain a target prediction by changing a specific feature. We develop efficient methods to compute responsiveness scores for any model and any dataset. We conduct an extensive empirical study on the responsiveness of explanations in lending. Our results show that standard practices in consumer finance can backfire by presenting consumers with reasons without recourse, and demonstrate how our approach improves consumer protection by highlighting responsive features and identifying fixed predictions.

A key limitation in current datasets for multi-hop reasoning is that the required steps for answering the question are mentioned in it explicitly. In this work, we introduce StrategyQA, a question answering (QA) benchmark where the required reasoning steps are implicit in the question, and should be inferred using a strategy. A fundamental challenge in this setup is how to elicit such creative questions from crowdsourcing workers, while covering a broad range of potential strategies. We propose a data collection procedure that combines term-based priming to inspire annotators, careful control over the annotator population, and adversarial filtering for eliminating reasoning shortcuts. Moreover, we annotate each question with (1) a decomposition into reasoning steps for answering it, and (2) Wikipedia paragraphs that contain the answers to each step. Overall, StrategyQA includes 2,780 examples, each consisting of a strategy question, its decomposition, and evidence paragraphs. Analysis shows that questions in StrategyQA are short, topic-diverse, and cover a wide range of strategies. Empirically, we show that humans perform well (87%) on this task, while our best baseline reaches an accuracy of sim66%.

Reward models have been increasingly critical for improving the reasoning capability of LLMs. Existing research has shown that a well-trained reward model can substantially improve model performances at inference time via search. However, the potential of reward models during RL training time still remains largely under-explored. It is currently unclear whether these reward models can provide additional training signals to enhance the reasoning capabilities of LLMs in RL training that uses sparse success rewards, which verify the correctness of solutions. In this work, we evaluate popular reward models for RL training, including the Outcome-supervised Reward Model (ORM) and the Process-supervised Reward Model (PRM), and train a collection of LLMs for math problems using RL by combining these learned rewards with success rewards. Surprisingly, even though these learned reward models have strong inference-time performances, they may NOT help or even hurt RL training, producing worse performances than LLMs trained with the success reward only. Our analysis reveals that an LLM can receive high rewards from some of these reward models by repeating correct but unnecessary reasoning steps, leading to a severe reward hacking issue. Therefore, we introduce two novel reward refinement techniques, including Clipping and Delta. The key idea is to ensure the accumulative reward of any reasoning trajectory is upper-bounded to keep a learned reward model effective without being exploited. We evaluate our techniques with multiple reward models over a set of 1.5B and 7B LLMs on MATH and GSM8K benchmarks and demonstrate that with a carefully designed reward function, RL training without any additional supervised tuning can improve all the evaluated LLMs, including the state-of-the-art 7B LLM Qwen2.5-Math-7B-Instruct on MATH and GSM8K benchmarks.

Tasks requiring deductive reasoning, especially those involving multiple steps, often demand adaptive strategies such as intermediate generation of rationales or programs, as no single approach is universally optimal. While Language Models (LMs) can enhance their outputs through iterative self-refinement and strategy adjustments, they frequently fail to apply the most effective strategy in their first attempt. This inefficiency raises the question: Can LMs learn to select the optimal strategy in the first attempt, without a need for refinement? To address this challenge, we introduce SMART (Self-learning Meta-strategy Agent for Reasoning Tasks), a novel framework that enables LMs to autonomously learn and select the most effective strategies for various reasoning tasks. We model the strategy selection process as a Markov Decision Process and leverage reinforcement learning-driven continuous self-improvement to allow the model to find the suitable strategy to solve a given task. Unlike traditional self-refinement methods that rely on multiple inference passes or external feedback, SMART allows an LM to internalize the outcomes of its own reasoning processes and adjust its strategy accordingly, aiming for correct solutions on the first attempt. Our experiments across various reasoning datasets and with different model architectures demonstrate that SMART significantly enhances the ability of models to choose optimal strategies without external guidance (+15 points on the GSM8K dataset). By achieving higher accuracy with a single inference pass, SMART not only improves performance but also reduces computational costs for refinement-based strategies, paving the way for more efficient and intelligent reasoning in LMs.

In Reinforcement Learning (RL), an agent acts in an unknown environment to maximize the expected cumulative discounted sum of an external reward signal, i.e., the expected return. In practice, in many tasks of interest, such as policy optimization, the agent usually spends its interaction budget by collecting episodes of fixed length within a simulator (i.e., Monte Carlo simulation). However, given the discounted nature of the RL objective, this data collection strategy might not be the best option. Indeed, the rewards taken in early simulation steps weigh exponentially more than future rewards. Taking a cue from this intuition, in this paper, we design an a-priori budget allocation strategy that leads to the collection of trajectories of different lengths, i.e., truncated. The proposed approach provably minimizes the width of the confidence intervals around the empirical estimates of the expected return of a policy. After discussing the theoretical properties of our method, we make use of our trajectory truncation mechanism to extend Policy Optimization via Importance Sampling (POIS, Metelli et al., 2018) algorithm. Finally, we conduct a numerical comparison between our algorithm and POIS: the results are consistent with our theory and show that an appropriate truncation of the trajectories can succeed in improving performance.

Social intelligence has become a critical capability for large language models (LLMs), enabling them to engage effectively in real-world social tasks such as accommodation, persuasion, collaboration, and negotiation. Reinforcement learning (RL) is a natural fit for training socially intelligent agents because it allows models to learn sophisticated strategies directly through social interactions. However, social interactions have two key characteristics that set barriers for RL training: (1) partial observability, where utterances have indirect and delayed effects that complicate credit assignment, and (2) multi-dimensionality, where behaviors such as rapport-building or knowledge-seeking contribute indirectly to goal achievement. These characteristics make Markov decision process (MDP)-based RL with single-dimensional episode-level rewards inefficient and unstable. To address these challenges, we propose Sotopia-RL, a novel framework that refines coarse episode-level feedback into utterance-level, multi-dimensional rewards. Utterance-level credit assignment mitigates partial observability by attributing outcomes to individual utterances, while multi-dimensional rewards capture the full richness of social interactions and reduce reward hacking. Experiments in Sotopia, an open-ended social learning environment, demonstrate that Sotopia-RL achieves state-of-the-art social goal completion scores (7.17 on Sotopia-hard and 8.31 on Sotopia-full), significantly outperforming existing approaches. Ablation studies confirm the necessity of both utterance-level credit assignment and multi-dimensional reward design for RL training. Our implementation is publicly available at: https://github.com/sotopia-lab/sotopia-rl.

Existing Vision-Language Models often struggle with complex, multi-question reasoning tasks where partial correctness is crucial for effective learning. Traditional reward mechanisms, which provide a single binary score for an entire response, are too coarse to guide models through intricate problems with multiple sub-parts. To address this, we introduce StructVRM, a method that aligns multimodal reasoning with Structured and Verifiable Reward Models. At its core is a model-based verifier trained to provide fine-grained, sub-question-level feedback, assessing semantic and mathematical equivalence rather than relying on rigid string matching. This allows for nuanced, partial credit scoring in previously intractable problem formats. Extensive experiments demonstrate the effectiveness of StructVRM. Our trained model, Seed-StructVRM, achieves state-of-the-art performance on six out of twelve public multimodal benchmarks and our newly curated, high-difficulty STEM-Bench. The success of StructVRM validates that training with structured, verifiable rewards is a highly effective approach for advancing the capabilities of multimodal models in complex, real-world reasoning domains.

We propose the PeerRank method for peer assessment. This constructs a grade for an agent based on the grades proposed by the agents evaluating the agent. Since the grade of an agent is a measure of their ability to grade correctly, the PeerRank method weights grades by the grades of the grading agent. The PeerRank method also provides an incentive for agents to grade correctly. As the grades of an agent depend on the grades of the grading agents, and as these grades themselves depend on the grades of other agents, we define the PeerRank method by a fixed point equation similar to the PageRank method for ranking web-pages. We identify some formal properties of the PeerRank method (for example, it satisfies axioms of unanimity, no dummy, no discrimination and symmetry), discuss some examples, compare with related work and evaluate the performance on some synthetic data. Our results show considerable promise, reducing the error in grade predictions by a factor of 2 or more in many cases over the natural baseline of averaging peer grades.

Portfolio management is an essential component of investment strategy that aims to maximize returns while minimizing risk. This paper explores several portfolio management strategies, including asset allocation, diversification, active management, and risk management, and their importance in optimizing portfolio performance. These strategies are examined individually and in combination to demonstrate how they can help investors maximize alpha and minimize beta. Asset allocation is the process of dividing a portfolio among different asset classes to achieve the desired level of risk and return. Diversification involves spreading investments across different securities and sectors to minimize the impact of individual security or sector-specific risks. Active management involves security selection and risk management techniques to generate excess returns while minimizing losses. Risk management strategies, such as stop-loss orders and options strategies, aim to minimize losses in adverse market conditions. The importance of combining these strategies for optimizing portfolio performance is emphasized in this paper. The proper implementation of these strategies can help investors achieve their investment goals over the long-term, while minimizing exposure to risks. A call to action for investors to utilize portfolio management strategies to maximize alpha and minimize beta is also provided.

Large language models (LLMs) have shown impressive capabilities in handling complex tasks through long-chain reasoning. However, the extensive reasoning steps involved can significantly increase computational costs, posing challenges for real-world deployment. Recent efforts have focused on optimizing reasoning efficiency by shortening the Chain-of-Thought (CoT) reasoning processes through various approaches, such as length-aware prompt engineering, supervised fine-tuning on CoT data with variable lengths, and reinforcement learning with length penalties. Although these methods effectively reduce reasoning length, they still necessitate an initial reasoning phase. More recent approaches have attempted to integrate long-chain and short-chain reasoning abilities into a single model, yet they still rely on manual control to toggle between short and long CoT. In this work, we propose a novel approach that autonomously switches between short and long reasoning chains based on problem complexity. Our method begins with supervised fine-tuning of the base model to equip both long-chain and short-chain reasoning abilities. We then employ reinforcement learning to further balance short and long CoT generation while maintaining accuracy through two key strategies: first, integrating reinforcement learning with a long-short adaptive group-wise reward strategy to assess prompt complexity and provide corresponding rewards; second, implementing a logit-based reasoning mode switching loss to optimize the model's initial token choice, thereby guiding the selection of the reasoning type. Evaluations on mathematical datasets demonstrate that our model can dynamically switch between long-chain and short-chain reasoning modes without substantially sacrificing performance. This advancement enhances the practicality of reasoning in large language models for real-world applications.

Large language model (LLM) agents need to perform multi-turn interactions in real-world tasks. However, existing multi-turn RL algorithms for optimizing LLM agents fail to perform effective credit assignment over multiple turns while leveraging the generalization capabilities of LLMs and it remains unclear how to develop such algorithms. To study this, we first introduce a new benchmark, ColBench, where an LLM agent interacts with a human collaborator over multiple turns to solve realistic tasks in backend programming and frontend design. Building on this benchmark, we propose a novel RL algorithm, SWEET-RL (RL with Step-WisE Evaluation from Training-time information), that uses a carefully designed optimization objective to train a critic model with access to additional training-time information. The critic provides step-level rewards for improving the policy model. Our experiments demonstrate that SWEET-RL achieves a 6% absolute improvement in success and win rates on ColBench compared to other state-of-the-art multi-turn RL algorithms, enabling Llama-3.1-8B to match or exceed the performance of GPT4-o in realistic collaborative content creation.

Large reasoning models (LRMs) have recently achieved significant progress in complex reasoning tasks, aided by reinforcement learning with verifiable rewards. However, LRMs often suffer from overthinking, expending excessive computation on simple problems and reducing efficiency. Existing efficient reasoning methods typically require accurate task assessment to preset token budgets or select reasoning modes, which limits their flexibility and reliability. In this work, we revisit the essence of overthinking and identify that encouraging effective steps while penalizing ineffective ones is key to its solution. To this end, we propose a novel rule-based verifiable stepwise reward mechanism (VSRM), which assigns rewards based on the performance of intermediate states in the reasoning trajectory. This approach is intuitive and naturally fits the step-by-step nature of reasoning tasks. We conduct extensive experiments on standard mathematical reasoning benchmarks, including AIME24 and AIME25, by integrating VSRM with PPO and Reinforce++. Results show that our method achieves substantial output length reduction while maintaining original reasoning performance, striking an optimal balance between efficiency and accuracy. Further analysis of overthinking frequency and pass@k score before and after training demonstrates that our approach in deed effectively suppresses ineffective steps and encourages effective reasoning, fundamentally alleviating the overthinking problem. All code will be released upon acceptance.

We propose controlled decoding (CD), a novel off-policy reinforcement learning method to control the autoregressive generation from language models towards high reward outcomes. CD solves an off-policy reinforcement learning problem through a value function for the reward, which we call a prefix scorer. The prefix scorer is used at inference time to steer the generation towards higher reward outcomes. We show that the prefix scorer may be trained on (possibly) off-policy data to predict the expected reward when decoding is continued from a partially decoded response. We empirically demonstrate that CD is effective as a control mechanism on Reddit conversations corpus. We also show that the modularity of the design of CD makes it possible to control for multiple rewards, effectively solving a multi-objective reinforcement learning problem with no additional complexity. Finally, we show that CD can be applied in a novel blockwise fashion at inference-time, again without the need for any training-time changes, essentially bridging the gap between the popular best-of-K strategy and token-level reinforcement learning. This makes CD a promising approach for alignment of language models.

Recent advances have shown success in eliciting strong reasoning abilities in multimodal large language models (MLLMs) through rule-based reinforcement learning (RL) with outcome rewards. However, this paradigm typically lacks supervision over the thinking process leading to the final outcome.As a result, the model may learn sub-optimal reasoning strategies, which can hinder its generalization ability. In light of this, we propose SophiaVL-R1, as an attempt to add reward signals for the thinking process in this paradigm. To achieve this, we first train a thinking reward model that evaluates the quality of the entire thinking process. Given that the thinking reward may be unreliable for certain samples due to reward hacking, we propose the Trust-GRPO method, which assigns a trustworthiness weight to the thinking reward during training. This weight is computed based on the thinking reward comparison of responses leading to correct answers versus incorrect answers, helping to mitigate the impact of potentially unreliable thinking rewards. Moreover, we design an annealing training strategy that gradually reduces the thinking reward over time, allowing the model to rely more on the accurate rule-based outcome reward in later training stages. Experiments show that our SophiaVL-R1 surpasses a series of reasoning MLLMs on various benchmarks (e.g., MathVisita, MMMU), demonstrating strong reasoning and generalization capabilities. Notably, our SophiaVL-R1-7B even outperforms LLaVA-OneVision-72B on most benchmarks, despite the latter having 10 times more parameters. All code, models, and datasets are made publicly available at https://github.com/kxfan2002/SophiaVL-R1.

Reinforcement learning often needs to deal with the exponential growth of states and actions when exploring optimal control in high-dimensional spaces (often known as the curse of dimensionality). In this work, we address this issue by learning the inherent structure of action-wise similar MDP to appropriately balance the performance degradation versus sample/computational complexity. In particular, we partition the action spaces into multiple groups based on the similarity in transition distribution and reward function, and build a linear decomposition model to capture the difference between the intra-group transition kernel and the intra-group rewards. Both our theoretical analysis and experiments reveal a surprising and counter-intuitive result: while a more refined grouping strategy can reduce the approximation error caused by treating actions in the same group as identical, it also leads to increased estimation error when the size of samples or the computation resources is limited. This finding highlights the grouping strategy as a new degree of freedom that can be optimized to minimize the overall performance loss. To address this issue, we formulate a general optimization problem for determining the optimal grouping strategy, which strikes a balance between performance loss and sample/computational complexity. We further propose a computationally efficient method for selecting a nearly-optimal grouping strategy, which maintains its computational complexity independent of the size of the action space.

Large Language Models (LLMs) can self-improve through reinforcement learning, where they generate trajectories to explore and discover better solutions. However, this exploration process is computationally expensive, often forcing current methods to assign limited exploration budgets to each task. This uniform allocation creates problematic edge cases: easy tasks consistently succeed while difficult tasks consistently fail, both producing zero gradients during training updates for the widely used Group Relative Policy Optimization (GRPO). We address this problem from the lens of exploration budget allocation. Viewing each task's exploration as an "item" with a distinct "value" and "cost", we establish a connection to the classical knapsack problem. This formulation allows us to derive an optimal assignment rule that adaptively distributes resources based on the model's current learning status. When applied to GRPO, our method increases the effective ratio of non-zero policy gradients by 20-40% during training. Acting as a computational "free lunch", our approach could reallocate exploration budgets from tasks where learning is saturated to those where it is most impactful. This enables significantly larger budgets (e.g., 93 rollouts) for especially challenging problems, which would be computationally prohibitive under a uniform allocation. These improvements translate to meaningful gains on mathematical reasoning benchmarks, with average improvements of 2-4 points and peak gains of 9 points on specific tasks. Notably, achieving comparable performance with traditional homogeneous allocation would require about 2x the computational resources.

Large Language Models (LLMs) have shown impressive reasoning capabilities in well-defined problems with clear solutions, such as mathematics and coding. However, they still struggle with complex real-world scenarios like business negotiations, which require strategic reasoning-an ability to navigate dynamic environments and align long-term goals amidst uncertainty. Existing methods for strategic reasoning face challenges in adaptability, scalability, and transferring strategies to new contexts. To address these issues, we propose explicit policy optimization (EPO) for strategic reasoning, featuring an LLM that provides strategies in open-ended action space and can be plugged into arbitrary LLM agents to motivate goal-directed behavior. To improve adaptability and policy transferability, we train the strategic reasoning model via multi-turn reinforcement learning (RL) using process rewards and iterative self-play, without supervised fine-tuning (SFT) as a preliminary step. Experiments across social and physical domains demonstrate EPO's ability of long-term goal alignment through enhanced strategic reasoning, achieving state-of-the-art performance on social dialogue and web navigation tasks. Our findings reveal various collaborative reasoning mechanisms emergent in EPO and its effectiveness in generating novel strategies, underscoring its potential for strategic reasoning in real-world applications.

Peer-to-peer (P2P) lending connects borrowers and lenders through online platforms but suffers from significant information asymmetry, as lenders often lack sufficient data to assess borrowers' creditworthiness. This paper addresses this challenge by leveraging BERT, a Large Language Model (LLM) known for its ability to capture contextual nuances in text, to generate a risk score based on borrowers' loan descriptions using a dataset from the Lending Club platform. We fine-tune BERT to distinguish between defaulted and non-defaulted loans using the loan descriptions provided by the borrowers. The resulting BERT-generated risk score is then integrated as an additional feature into an XGBoost classifier used at the loan granting stage, where decision-makers have limited information available to guide their decisions. This integration enhances predictive performance, with improvements in balanced accuracy and AUC, highlighting the value of textual features in complementing traditional inputs. Moreover, we find that the incorporation of the BERT score alters how classification models utilize traditional input variables, with these changes varying by loan purpose. These findings suggest that BERT discerns meaningful patterns in loan descriptions, encompassing borrower-specific features, specific purposes, and linguistic characteristics. However, the inherent opacity of LLMs and their potential biases underscore the need for transparent frameworks to ensure regulatory compliance and foster trust. Overall, this study demonstrates how LLM-derived insights interact with traditional features in credit risk modeling, opening new avenues to enhance the explainability and fairness of these models.

Reward models are key in reinforcement learning from human feedback (RLHF) systems, aligning the model behavior with human preferences. Particularly in the math domain, there have been plenty of studies using reward models to align policies for improving reasoning capabilities. Recently, as the importance of reward models has been emphasized, RewardBench is proposed to understand their behavior. However, we figure out that the math subset of RewardBench has different representations between chosen and rejected completions, and relies on a single comparison, which may lead to unreliable results as it only see an isolated case. Therefore, it fails to accurately present the robustness of reward models, leading to a misunderstanding of its performance and potentially resulting in reward hacking. In this work, we introduce a new design for reliable evaluation of reward models, and to validate this, we construct RewardMATH, a benchmark that effectively represents the robustness of reward models in mathematical reasoning tasks. We demonstrate that the scores on RewardMATH strongly correlate with the results of optimized policy and effectively estimate reward overoptimization, whereas the existing benchmark shows almost no correlation. The results underscore the potential of our design to enhance the reliability of evaluation, and represent the robustness of reward model. We make our code and data publicly available.

This paper presents FinCoT, a structured chain-of-thought (CoT) prompting approach that incorporates insights from domain-specific expert financial reasoning to guide the reasoning traces of large language models. We investigate that there are three main prompting styles in FinNLP: (1) standard prompting--zero-shot prompting; (2) unstructured CoT--CoT prompting without an explicit reasoning structure, such as the use of tags; and (3) structured CoT prompting--CoT prompting with explicit instructions or examples that define structured reasoning steps. Previously, FinNLP has primarily focused on prompt engineering with either standard or unstructured CoT prompting. However, structured CoT prompting has received limited attention in prior work. Furthermore, the design of reasoning structures in structured CoT prompting is often based on heuristics from non-domain experts. In this study, we investigate each prompting approach in FinNLP. We evaluate the three main prompting styles and FinCoT on CFA-style questions spanning ten financial domains. We observe that FinCoT improves performance from 63.2% to 80.5% and Qwen-2.5-7B-Instruct from 69.7% to 74.2%, while reducing generated tokens eight-fold compared to structured CoT prompting. Our findings show that domain-aligned structured prompts not only improve performance and reduce inference costs but also yield more interpretable and expert-aligned reasoning traces.

Although large language models (LLMs) have demonstrated strong reasoning abilities in structured tasks (e.g., coding and mathematics), it remains unexplored whether these abilities extend to strategic multi-agent environments. We investigate strategic reasoning capabilities -- the process of choosing an optimal course of action by predicting and adapting to others' actions -- of LLMs by analyzing their performance in three classical games from behavioral economics. We evaluate three standard LLMs (ChatGPT-4, Claude-2.1, Gemini 1.5) and three specialized reasoning LLMs (GPT-o1, Claude-3.5-Sonnet, Gemini Flash Thinking 2.0) using hierarchical models of bounded rationality. Our results show that reasoning LLMs exhibit superior strategic reasoning compared to standard LLMs (which do not demonstrate substantial capabilities), and often match or exceed human performance. Since strategic reasoning is fundamental to future AI systems (including Agentic AI and Artificial General Intelligence), our findings demonstrate the importance of dedicated reasoning capabilities in achieving effective strategic reasoning.

Chain-of-thought (COT) prompting can help large language models (LLMs) reason toward correct answers, but its efficacy in reasoning toward incorrect answers is unexplored. This process of elimination (PoE), when used with COT, can enhance self-consistency, interpretability, and tasks such as medical diagnoses of exclusion. Thus, we propose PoE with COT, where LLMs must reason toward incorrect options on multiple-choice questions. We evaluate the ability of GPT-3.5, LLaMA-2, and Falcon to perform PoE with COT on a total of four commonsense and scientific reasoning datasets. We find that the strategy of PoE always underperforms the strategy of choosing the correct answer. The agreement of these strategies is also lower than the self-consistency of each strategy. To study these issues further, we conduct error analyses and give suggestions for future work.

Pool-based active learning (AL) aims to optimize the annotation process (i.e., labeling) as the acquisition of annotations is often time-consuming and therefore expensive. For this purpose, an AL strategy queries annotations intelligently from annotators to train a high-performance classification model at a low annotation cost. Traditional AL strategies operate in an idealized framework. They assume a single, omniscient annotator who never gets tired and charges uniformly regardless of query difficulty. However, in real-world applications, we often face human annotators, e.g., crowd or in-house workers, who make annotation mistakes and can be reluctant to respond if tired or faced with complex queries. Recently, a wide range of novel AL strategies has been proposed to address these issues. They differ in at least one of the following three central aspects from traditional AL: (1) They explicitly consider (multiple) human annotators whose performances can be affected by various factors, such as missing expertise. (2) They generalize the interaction with human annotators by considering different query and annotation types, such as asking an annotator for feedback on an inferred classification rule. (3) They take more complex cost schemes regarding annotations and misclassifications into account. This survey provides an overview of these AL strategies and refers to them as real-world AL. Therefore, we introduce a general real-world AL strategy as part of a learning cycle and use its elements, e.g., the query and annotator selection algorithm, to categorize about 60 real-world AL strategies. Finally, we outline possible directions for future research in the field of AL.

We propose a credit risk model for portfolios composed of green and brown loans, extending the ASRF framework via a two-factor copula structure. Systematic risk is modeled using potentially skewed distributions, allowing for asymmetric creditworthiness effects, while idiosyncratic risk remains Gaussian. Under a non-uniform exposure setting, we establish convergence in quadratic mean of the portfolio loss to a limit reflecting the distinct characteristics of the two loan segments. Numerical results confirm the theoretical findings and illustrate how value-at-risk is affected by portfolio granularity, default probabilities, factor loadings, and skewness. Our model accommodates differential sensitivity to systematic shocks and offers a tractable basis for further developments in credit risk modeling, including granularity adjustments, CDO pricing, and empirical analysis of green loan portfolios.

Large language models (LLMs) have demonstrated remarkable performance in reasoning tasks, where reinforcement learning (RL) serves as a key algorithm for enhancing their reasoning capabilities. Currently, there are two mainstream reward paradigms: model-based rewards and rule-based rewards. However, both approaches suffer from limitations: rule-based rewards lack robustness, while model-based rewards are vulnerable to reward hacking. To address these issues, we propose Cooper(Co-optimizing Policy Model and Reward Model), a RL framework that jointly optimizes both the policy model and the reward model. Cooper leverages the high precision of rule-based rewards when identifying correct responses, and dynamically constructs and selects positive-negative sample pairs for continued training the reward model. This design enhances robustness and mitigates the risk of reward hacking. To further support Cooper, we introduce a hybrid annotation strategy that efficiently and accurately generates training data for the reward model. We also propose a reference-based reward modeling paradigm, where the reward model takes a reference answer as input. Based on this design, we train a reward model named VerifyRM, which achieves higher accuracy on VerifyBench compared to other models of the same size. We conduct reinforcement learning using both VerifyRM and Cooper. Our experiments show that Cooper not only alleviates reward hacking but also improves end-to-end RL performance, for instance, achieving a 0.54% gain in average accuracy on Qwen2.5-1.5B-Instruct. Our findings demonstrate that dynamically updating reward model is an effective way to combat reward hacking, providing a reference for better integrating reward models into RL.

We propose an acceleration scheme for large language models (LLMs) through Speculative Decoding with Semantic Adaptive Tokens (SDSAT). The primary objective of this design is to enhance the LLM model's ability to generate draft tokens more accurately without compromising the model's accuracy. The core strategies involve: 1) Fine-tune the model by incorporating semantic adaptive tokens that possess flexible decoding capabilities without changing its structure, allowing them to generate high-quality draft tokens. 2) By employing a training method that does not affect the standard tokens, the model can acquire parallel decoding abilities atop its original framework with minimal training overhead. 3) We have designed the "two-step-draft-then-verify" generation strategies using both greedy search and nucleus sampling. Experiments conducted on the CodeLlama-13B and 7B models have yielded speed increases of over 3.5X and 3.0X, respectively. Please refer to https://github.com/hasuoshenyun/SDSAT.

Sampling is ubiquitous in machine learning methodologies. Due to the growth of large datasets and model complexity, we want to learn and adapt the sampling process while training a representation. Towards achieving this grand goal, a variety of sampling techniques have been proposed. However, most of them either use a fixed sampling scheme or adjust the sampling scheme based on simple heuristics. They cannot choose the best sample for model training in different stages. Inspired by "Think, Fast and Slow" (System 1 and System 2) in cognitive science, we propose a reward-guided sampling strategy called Adaptive Sample with Reward (ASR) to tackle this challenge. To the best of our knowledge, this is the first work utilizing reinforcement learning (RL) to address the sampling problem in representation learning. Our approach optimally adjusts the sampling process to achieve optimal performance. We explore geographical relationships among samples by distance-based sampling to maximize overall cumulative reward. We apply ASR to the long-standing sampling problems in similarity-based loss functions. Empirical results in information retrieval and clustering demonstrate ASR's superb performance across different datasets. We also discuss an engrossing phenomenon which we name as "ASR gravity well" in experiments.

This paper presents a dynamic cryptocurrency portfolio optimization strategy that integrates technical indicators and sentiment analysis to enhance investment decision-making. The proposed method employs the 14-day Relative Strength Index (RSI) and 14-day Simple Moving Average (SMA) to capture market momentum, while sentiment scores are extracted from news articles using the VADER (Valence Aware Dictionary and sEntiment Reasoner) model, with compound scores quantifying overall market tone. The large language model Google Gemini is used to further verify the sentiment scores predicted by VADER and give investment decisions. These technical indicator and sentiment signals are incorporated into the expected return estimates before applying mean-variance optimization with constraints on asset weights. The strategy is evaluated through a rolling-window backtest over cryptocurrency market data, with Bitcoin (BTC) and an equal-weighted portfolio of selected cryptocurrencies serving as benchmarks. Experimental results show that the proposed approach achieves a cumulative return of 38.72, substantially exceeding Bitcoin's 8.85 and the equal-weighted portfolio's 21.65 over the same period, and delivers a higher Sharpe ratio (1.1093 vs. 0.8853 and 1.0194, respectively). However, the strategy exhibits a larger maximum drawdown (-18.52%) compared to Bitcoin (-4.48%) and the equal-weighted portfolio (-11.02%), indicating higher short-term downside risk. These results highlight the potential of combining sentiment and technical signals to improve cryptocurrency portfolio performance, while also emphasizing the need to address risk exposure in volatile markets.

Large Language Models (LLMs) frequently hallucinate to long-form questions, producing plausible yet factually incorrect answers. A common mitigation strategy is to provide attribution to LLM outputs. However, existing benchmarks primarily focus on simple attribution that retrieves supporting textual evidence as references. We argue that in real-world scenarios such as financial applications, attribution goes beyond reference retrieval. We introduce FinLFQA, a benchmark designed to evaluate the ability of LLMs to generate long-form answers to complex financial questions with reliable and nuanced attributions. FinLFQA evaluates three critical aspects of attribution through human annotations: (1) supporting evidence extracted from financial reports, (2) intermediate numerical reasoning steps, and (3) domain-specific financial knowledge that informs the reasoning process. We further provide an automatic evaluation framework covering both answer quality and attribution quality. Through extensive experiments on eight LLMs across multiple attribution-generation paradigms, we find that fine-grained metrics are important to distinguish model capabilities, that end-to-end generation achieves comparable performance to post-hoc approaches, and that iterative refinement only helps when guided by external feedback.

Large Language Models (LLMs) have demonstrated remarkable creative writing capabilities, yet their substantial computational demands hinder widespread use. Enhancing Small Language Models (SLMs) offers a promising alternative, but current methods like Supervised Fine-Tuning (SFT) struggle with novelty, and Reinforcement Learning from Human Feedback (RLHF) is costly. This paper explores two distinct AI-driven reward strategies within a Reinforcement Learning from AI Feedback (RLAIF) framework to ignite the creative writing of a 7B-parameter SLM, specifically for generating Chinese greetings. The first strategy employs a RM trained on high-quality preference data curated by a novel multi-agent rejection sampling framework designed for creative tasks. The second, more novel strategy utilizes a principle-guided LLM-as-a-Judge, whose reward function is optimized via an adversarial training scheme with a reflection mechanism, to directly provide reward signals. Comprehensive experiments reveal that while both approaches significantly enhance creative output over baselines, the principle-guided LLM-as-a-Judge demonstrably yields superior generation quality. Furthermore, it offers notable advantages in training efficiency and reduced dependency on human-annotated data, presenting a more scalable and effective path towards creative SLMs. Our automated evaluation methods also exhibit strong alignment with human judgments. Our code and data are publicly available at https://github.com/weixiaolong94-hub/Igniting-Creative-Writing-in-Small-Language-Models.

Large Language Model agents excel at solving complex tasks through iterative reasoning and tool use, but typically depend on ultra-large, costly backbones. Existing distillation approaches train smaller students to imitate full teacher trajectories, yet reasoning and knowledge gaps between the teacher and student often lead to compounding errors. We propose SCoRe, a student-centered framework in which the student generates trajectories and the teacher intervenes only at the first critical error, producing training data matched to the student's ability and exposing specific weaknesses. The student is first fine-tuned on corrected trajectories. Subsequently, short-horizon reinforcement learning starts from the verified prefix before the first critical error, with target rewards assigned at that step. This design encourages autonomous problem-solving beyond imitation and improves training stability. Particularly, on 12 challenging benchmarks, a 7B-parameter student distilled with SCoRe matches the agentic performance of a 72B-parameter teacher.

Multimodal document retrieval systems enable information access across text, images, and layouts, benefiting various domains like document-based question answering, report analysis, and interactive content summarization. Rerankers improve retrieval precision by reordering retrieved candidates. However, current multimodal reranking methods remain underexplored, with significant room for improvement in both training strategies and overall effectiveness. Moreover, the lack of explicit reasoning makes it difficult to analyze and optimize these methods further. In this paper, We propose MM-R5, a MultiModal Reasoning-Enhanced ReRanker via Reinforcement Learning for Document Retrieval, aiming to provide a more effective and reliable solution for multimodal reranking tasks. MM-R5 is trained in two stages: supervised fine-tuning (SFT) and reinforcement learning (RL). In the SFT stage, we focus on improving instruction-following and guiding the model to generate complete and high-quality reasoning chains. To support this, we introduce a novel data construction strategy that produces rich, high-quality reasoning data. In the RL stage, we design a task-specific reward framework, including a reranking reward tailored for multimodal candidates and a composite template-based reward to further refine reasoning quality. We conduct extensive experiments on MMDocIR, a challenging public benchmark spanning multiple domains. MM-R5 achieves state-of-the-art performance on most metrics and delivers comparable results to much larger models on the remaining ones. Moreover, compared to the best retrieval-only method, MM-R5 improves recall@1 by over 4%. These results validate the effectiveness of our reasoning-enhanced training pipeline.

Modern preference alignment techniques, such as Best-of-N (BoN) sampling, rely on reward models trained with pairwise comparison data. While effective at learning relative preferences, this paradigm fails to capture a signal of response acceptability, leaving systems vulnerable to selecting the least bad of many unacceptable options. This is particularly problematic for hard prompts, where the risk of such false acceptances increases with the number of samples. In this paper, we address this critical reliability gap by introducing a new data collection and modeling framework. By augmenting preference data with an outside option, inspired by discrete choice models, we train a reward model that can distinguish not just what is better, but what is good enough. We leverage this capability to create an adaptive inference strategy, best of mini-N in-loop, which partitions the generation budget into sequential loops with a calibrated, early-exit condition. Our experiments show that when tuned as an alignment guardrail, it reduces reliability failures by 70\%, and when tuned as an inference accelerator, it improves average inference speed by over 22\% in IMDB-sentiment setting. We thus provide a principled and flexible framework for practitioners to explicitly manage the trade-off between reliability and computational efficiency.

This study presents a novel learning approach designed to enhance both mathematical reasoning and problem-solving abilities of Large Language Models (LLMs). We focus on integrating the Chain-of-Thought (CoT) and the Program-of-Thought (PoT) learning, hypothesizing that prioritizing the learning of mathematical reasoning ability is helpful for the amplification of problem-solving ability. Thus, the initial learning with CoT is essential for solving challenging mathematical problems. To this end, we propose a sequential learning approach, named SAAS (Solving Ability Amplification Strategy), which strategically transitions from CoT learning to PoT learning. Our empirical study, involving an extensive performance comparison using several benchmarks, demonstrates that our SAAS achieves state-of-the-art (SOTA) performance. The results underscore the effectiveness of our sequential learning approach, marking a significant advancement in the field of mathematical reasoning in LLMs.

Risk parity, also known as equal risk contribution, has recently gained increasing attention as a portfolio allocation method. However, solving portfolio weights must resort to numerical methods as the analytic solution is not available. This study improves two existing iterative methods: the cyclical coordinate descent (CCD) and Newton methods. We enhance the CCD method by simplifying the formulation using a correlation matrix and imposing an additional rescaling step. We also suggest an improved initial guess inspired by the CCD method for the Newton method. Numerical experiments show that the improved CCD method performs the best and is approximately three times faster than the original CCD method, saving more than 40% of the iterations.

Prompting is used to guide or steer a language model in generating an appropriate response that is consistent with the desired outcome. Chaining is a strategy used to decompose complex tasks into smaller, manageable components. In this study, we utilize prompt chaining for extensive legal document classification tasks, which present difficulties due to their intricate domain-specific language and considerable length. Our approach begins with the creation of a concise summary of the original document, followed by a semantic search for related exemplar texts and their corresponding annotations from a training corpus. Finally, we prompt for a label - based on the task - to assign, by leveraging the in-context learning from the few-shot prompt. We demonstrate that through prompt chaining, we can not only enhance the performance over zero-shot, but also surpass the micro-F1 score achieved by larger models, such as ChatGPT zero-shot, using smaller models.

Chain-of-thought prompting has demonstrated remarkable performance on various natural language reasoning tasks. However, it tends to perform poorly on tasks which requires solving problems harder than the exemplars shown in the prompts. To overcome this challenge of easy-to-hard generalization, we propose a novel prompting strategy, least-to-most prompting. The key idea in this strategy is to break down a complex problem into a series of simpler subproblems and then solve them in sequence. Solving each subproblem is facilitated by the answers to previously solved subproblems. Our experimental results on tasks related to symbolic manipulation, compositional generalization, and math reasoning reveal that least-to-most prompting is capable of generalizing to more difficult problems than those seen in the prompts. A notable finding is that when the GPT-3 code-davinci-002 model is used with least-to-most prompting, it can solve the compositional generalization benchmark SCAN in any split (including length split) with an accuracy of at least 99% using just 14 exemplars, compared to only 16% accuracy with chain-of-thought prompting. This is particularly noteworthy because neural-symbolic models in the literature that specialize in solving SCAN are trained on the entire training set containing over 15,000 examples. We have included prompts for all the tasks in the Appendix.

Iterative data generation and model retraining are widely used to align large language models (LLMs). It typically involves a policy model to generate on-policy responses and a reward model to guide training data selection. Direct Preference Optimization (DPO) further enhances this process by constructing preference pairs of chosen and rejected responses. In this work, we aim to scale up the number of on-policy samples via repeated random sampling to improve alignment performance. Conventional practice selects the sample with the highest reward as chosen and the lowest as rejected for DPO. However, our experiments reveal that this strategy leads to a decline in performance as the sample size increases. To address this, we investigate preference data construction through the lens of underlying normal distribution of sample rewards. We categorize the reward space into seven representative points and systematically explore all 21 (C_7^2) pairwise combinations. Through evaluations on four models using AlpacaEval 2, we find that selecting the rejected response at reward position mu - 2sigma rather than the minimum reward, is crucial for optimal performance. We finally introduce a scalable preference data construction strategy that consistently enhances model performance as the sample scale increases.

Long chain-of-thought (CoT) is an essential ingredient in effective usage of modern large language models, but our understanding of the reasoning strategies underlying these capabilities remains limited. While some prior works have attempted to categorize CoTs using predefined strategy types, such approaches are constrained by human intuition and fail to capture the full diversity of model behaviors. In this work, we introduce the CoT Encyclopedia, a bottom-up framework for analyzing and steering model reasoning. Our method automatically extracts diverse reasoning criteria from model-generated CoTs, embeds them into a semantic space, clusters them into representative categories, and derives contrastive rubrics to interpret reasoning behavior. Human evaluations show that this framework produces more interpretable and comprehensive analyses than existing methods. Moreover, we demonstrate that this understanding enables performance gains: we can predict which strategy a model is likely to use and guide it toward more effective alternatives. Finally, we provide practical insights, such as that training data format (e.g., free-form vs. multiple-choice) has a far greater impact on reasoning behavior than data domain, underscoring the importance of format-aware model design.

We study principal-agent problems in which a principal commits to an outcome-dependent payment scheme -- called contract -- in order to induce an agent to take a costly, unobservable action leading to favorable outcomes. We consider a generalization of the classical (single-round) version of the problem in which the principal interacts with the agent by committing to contracts over multiple rounds. The principal has no information about the agent, and they have to learn an optimal contract by only observing the outcome realized at each round. We focus on settings in which the size of the agent's action space is small. We design an algorithm that learns an approximately-optimal contract with high probability in a number of rounds polynomial in the size of the outcome space, when the number of actions is constant. Our algorithm solves an open problem by Zhu et al.[2022]. Moreover, it can also be employed to provide a mathcal{O}(T^{4/5}) regret bound in the related online learning setting in which the principal aims at maximizing their cumulative utility, thus considerably improving previously-known regret bounds.

Large language model (LLM)-based agents are increasingly trained with reinforcement learning (RL) to enhance their ability to interact with external environments through tool use, particularly in search-based settings that require multi-turn reasoning and knowledge acquisition. However, existing approaches typically rely on outcome-based rewards that are only provided at the final answer. This reward sparsity becomes particularly problematic in multi-turn settings, where long trajectories exacerbate two critical issues: (i) advantage collapse, where all rollouts receive identical rewards and provide no useful learning signals, and (ii) lack of fine-grained credit assignment, where dependencies between turns are obscured, especially in long-horizon tasks. In this paper, we propose Information Gain-based Policy Optimization (IGPO), a simple yet effective RL framework that provides dense and intrinsic supervision for multi-turn agent training. IGPO models each interaction turn as an incremental process of acquiring information about the ground truth, and defines turn-level rewards as the marginal increase in the policy's probability of producing the correct answer. Unlike prior process-level reward approaches that depend on external reward models or costly Monte Carlo estimation, IGPO derives intrinsic rewards directly from the model's own belief updates. These intrinsic turn-level rewards are combined with outcome-level supervision to form dense reward trajectories. Extensive experiments on both in-domain and out-of-domain benchmarks demonstrate that IGPO consistently outperforms strong baselines in multi-turn scenarios, achieving higher accuracy and improved sample efficiency.

OpenAI o1 represents a significant milestone in Artificial Inteiligence, which achieves expert-level performances on many challanging tasks that require strong reasoning ability.OpenAI has claimed that the main techinique behinds o1 is the reinforcement learining. Recent works use alternative approaches like knowledge distillation to imitate o1's reasoning style, but their effectiveness is limited by the capability ceiling of the teacher model. Therefore, this paper analyzes the roadmap to achieving o1 from the perspective of reinforcement learning, focusing on four key components: policy initialization, reward design, search, and learning. Policy initialization enables models to develop human-like reasoning behaviors, equipping them with the ability to effectively explore solution spaces for complex problems. Reward design provides dense and effective signals via reward shaping or reward modeling, which is the guidance for both search and learning. Search plays a crucial role in generating high-quality solutions during both training and testing phases, which can produce better solutions with more computation. Learning utilizes the data generated by search for improving policy, which can achieve the better performance with more parameters and more searched data. Existing open-source projects that attempt to reproduce o1 can be seem as a part or a variant of our roadmap. Collectively, these components underscore how learning and search drive o1's advancement, making meaningful contributions to the development of LLM.

Enabling agentic AI systems to adapt their problem-solving approaches based on post-training interactions remains a fundamental challenge. While systems that update and maintain a memory at inference time have been proposed, existing designs only steer the system by modifying textual input to a language model or agent, which means that they cannot change sampling parameters, remove tools, modify system prompts, or switch between agentic and workflow paradigms. On the other hand, systems that adapt more flexibly require offline optimization and remain static once deployed. We present Experience-Guided Reasoner (EGuR), which generates tailored strategies -- complete computational procedures involving LLM calls, tools, sampling parameters, and control logic -- dynamically at inference time based on accumulated experience. We achieve this using an LLM-based meta-strategy -- a strategy that outputs strategies -- enabling adaptation of all strategy components (prompts, sampling parameters, tool configurations, and control logic). EGuR operates through two components: a Guide generates multiple candidate strategies conditioned on the current problem and structured memory of past experiences, while a Consolidator integrates execution feedback to improve future strategy generation. This produces complete, ready-to-run strategies optimized for each problem, which can be cached, retrieved, and executed as needed without wasting resources. Across five challenging benchmarks (AIME 2025, 3-SAT, and three Big Bench Extra Hard tasks), EGuR achieves up to 14% accuracy improvements over the strongest baselines while reducing computational costs by up to 111x, with both metrics improving as the system gains experience.

Chain-of-thought prompting combined with pre-trained large language models has achieved encouraging results on complex reasoning tasks. In this paper, we propose a new decoding strategy, self-consistency, to replace the naive greedy decoding used in chain-of-thought prompting. It first samples a diverse set of reasoning paths instead of only taking the greedy one, and then selects the most consistent answer by marginalizing out the sampled reasoning paths. Self-consistency leverages the intuition that a complex reasoning problem typically admits multiple different ways of thinking leading to its unique correct answer. Our extensive empirical evaluation shows that self-consistency boosts the performance of chain-of-thought prompting with a striking margin on a range of popular arithmetic and commonsense reasoning benchmarks, including GSM8K (+17.9%), SVAMP (+11.0%), AQuA (+12.2%), StrategyQA (+6.4%) and ARC-challenge (+3.9%).

We study the problem of planning under model uncertainty in an online meta-reinforcement learning (RL) setting where an agent is presented with a sequence of related tasks with limited interactions per task. The agent can use its experience in each task and across tasks to estimate both the transition model and the distribution over tasks. We propose an algorithm to meta-learn the underlying structure across tasks, utilize it to plan in each task, and upper-bound the regret of the planning loss. Our bound suggests that the average regret over tasks decreases as the number of tasks increases and as the tasks are more similar. In the classical single-task setting, it is known that the planning horizon should depend on the estimated model's accuracy, that is, on the number of samples within task. We generalize this finding to meta-RL and study this dependence of planning horizons on the number of tasks. Based on our theoretical findings, we derive heuristics for selecting slowly increasing discount factors, and we validate its significance empirically.