LLMs can act as valid instruments for latent cognitive occupational variables when four conditions hold, enabling an Augmented Human Capital Index with strong convergent validity and larger effect sizes in instrumental variable estimates.
Computing Krippendorff’s alpha-reliability.Communication Methods and Measures, 5(1):77–89
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Measuring What Cannot Be Surveyed: LLMs as Instruments for Latent Cognitive Variables in Labor Economics
LLMs can act as valid instruments for latent cognitive occupational variables when four conditions hold, enabling an Augmented Human Capital Index with strong convergent validity and larger effect sizes in instrumental variable estimates.