Can aggregated LLM rankings match human expert judgments?
This research tests whether combining multiple LLM evaluations of business models produces rankings comparable to human experts, and whether diversity or scale drives any improvement.
Doshi, Bell, Mirzayev, and Vanneste (Strategic Management Journal, 2025) tested whether generative AI can evaluate strategic decisions — specifically, ranking business models by likelihood of success — as well as human experts do. Across two studies of 60 business models each (one AI-generated, one submitted to a competition), they had multiple LLMs, assumed LLM roles, and prompts perform pairwise comparisons, then compared the rankings to those of human experts. Their finding: "generative AI often produces evaluations that are inconsistent and biased. However, when aggregating evaluations, AI rankings tend to resemble those of human experts." The managerial summary is blunt about the implication: "Generative AI's single evaluations are often inconsistent or biased," but aggregating "many evaluations across LLMs, prompts, or roles" produces results that "resemble those of human experts."
The paper explains the gain through two mechanisms borrowed from wisdom-of-crowds research: a diversity effect (aggregating across different LLMs, roles, and prompts while holding the number of predictions constant) and a scaling effect (aggregating all predictions regardless of source). Using seven LLMs — Claude2, PaLM2, Gemini Pro, Llama2, GPT-3.5, GPT-4, and GPT-4 Turbo — across 10 roles and 2 prompts, they found "both studies show modest increases from diversity and substantial increases from scaling," concluding that "in these two contexts, gains from aggregation are achieved primarily through scaling." The authors frame this as extending research on aggregating human predictions (Csaszar & Eggers; Knudsen & Levinthal) to a new population of evaluators: artificial ones, aggregated "by LLM, role, and prompt" rather than by human characteristics like skill or cognitive style.
This complicates the pairing of Can AI forecasters beat expert humans at venture evaluation? with Do LLMs consistently favor the same strategic choices regardless of context?. The venture tournament found pooling AI with humans adds nothing over the single best model — but that study pools AI and human predictions together, whereas Doshi et al. pool AI evaluators among themselves and find real gains from doing so, mostly via scale. Trendslop is the harder complication: Romasanta et al. found six different LLMs converge on the identical recommendation for a given tension, a shared, correlated bias that reordering options moved more than business context did. Aggregation cancels inconsistency when errors are independent across evaluators; it is unclear it would cancel a bias that most evaluators share for the same reason (shared training-data skew toward certain vocabulary), which Doshi et al.'s pairwise-ranking task may simply not have triggered.
The excerpt's ground truth is agreement with human experts, not realized business outcomes — unlike the venture tournament's use of actual fundraising results, nothing here confirms that AI-aggregate rankings predict which business models actually succeed, only that they converge toward what human experts would rank highest. The LLMs tested (GPT-4, Claude2, PaLM2, Gemini Pro, Llama2) are from 2023, well before current frontier models, and the task — ranking short, AI-generated or competition-submitted business model descriptions — is narrower than high-stakes, irreversible strategic decisions like M&A or market entry that the paper's introduction frames as the ultimate target. The authors themselves speculate, rather than establish, that the diversity/scaling split "depends on the nature of the evaluation task," naming information completeness and uncertainty-resolution timing as candidate moderators still untested.
Inquiring lines that read this note 8
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Why do multiple language models independently generate similar outputs? What improves LLM forecasting accuracy beyond base model capability? What organizational practices enable successful AI tool adoption? Does AI assistance enhance or undermine professional skill development? How should control and autonomy be allocated in human-AI collaboration? How does AI-generated content affect visibility and discourse in digital platforms? Can validator agreement alone ensure semantic correctness of reasoning? How can model evaluations remain robust against gaming and evaluator drift?Related concepts in this collection 3
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Can AI forecasters beat expert humans at venture evaluation?
Do frontier large language models outperform experienced managers and investors at predicting fundraising success? This matters because venture assessment is a genuinely uncertain, ill-structured judgment task where human expertise is assumed essential.
contrasting aggregation target: that study pools AI with humans and finds no gain, this one pools AI evaluators among themselves and finds a gain
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Do LLMs consistently favor the same strategic choices regardless of context?
Exploring whether large language models exhibit systematic bias toward trendy strategic recommendations—like collaboration over competition—even when industry context and detailed prompting should pull them toward different answers.
both find individual LLM evaluations are biased, but this study's aggregation fix assumes independent errors that a shared, correlated bias like trendslop may not satisfy
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Does AI enter strategy where reasoning is deepest or most measurable?
Csaszar et al. investigate whether AI gains strategic autonomy by advancing causal reasoning or by succeeding where performance is easiest to measure. This tests whether organizational trust in AI tracks cognitive depth or demonstrated capability.
this study's pairwise-ranking task is exactly the kind of measurable performance the dual-ladder framework predicts AI adoption will track
Related papers in this collection 8
Papers most semantically related to this note, ranked by cosine similarity in the embedding space.
- Generative Artificial Intelligence and Evaluating Strategic Decisions
- What and Whose Knowledge? Measuring Epistemic Diversity in Large Language Models
- ChatEval: Towards Better LLM-based Evaluators through Multi-Agent Debate
- Model Swarms: Collaborative Search to Adapt LLM Experts via Swarm Intelligence
- Consistent Explainers or Unreliable Narrators? Understanding LLM-generated Group Recommendations
- Do LLMs Have Values? A Quantitative Analysis and Alignment Framework for Values in Large Language Models
- How Well Can AI Do Strategy? Empirical Benchmarking Using Strategy Simulations
- LLM-REVal: Can We Trust LLM Reviewers Yet?
Original note title
Doshi et al. find aggregated LLM evaluations resemble human-expert rankings of strategic decisions — gains come mainly from scale not diversity