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Yiwen Shen

Publications and source records attributed to Yiwen Shen.

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FEAT: A Multi-Agent Forensic AI System with Domain-Adapted Large Language Model for Automated Cause-of-Death Analysis

Forensic cause-of-death determination faces systemic challenges, including workforce shortages and diagnostic variability, particularly in high-volume systems like China's medicolegal infrastructure. We introduce FEAT (ForEnsic AgenT), a multi-agent AI framework that automates and standardizes death investigations through a domain-adapted large language model. FEAT's application-oriented architecture integrates: (i) a central Planner for task decomposition, (ii) specialized Local Solvers for evidence analysis, (iii) a Memory & Reflection module for iterative refinement, and (iv) a Global Solver for conclusion synthesis. The system employs tool-augmented reasoning, hierarchical retrieval-augmented generation, forensic-tuned LLMs, and human-in-the-loop feedback to ensure legal and medical validity. In evaluations across diverse Chinese case cohorts, FEAT outperformed state-of-the-art AI systems in both long-form autopsy analyses and concise cause-of-death conclusions. It demonstrated robust generalization across six geographic regions and achieved high expert concordance in blinded validations. Senior pathologists validated FEAT's outputs as comparable to those of human experts, with improved detection of subtle evidentiary nuances. To our knowledge, FEAT is the first LLM-based AI agent system dedicated to forensic medicine, offering scalable, consistent death certification while maintaining expert-level rigor. By integrating AI efficiency with human oversight, this work could advance equitable access to reliable medicolegal services while addressing critical capacity constraints in forensic systems.

cs.AI

Credit Information in Earnings Calls

We develop a novel technique to extract credit-relevant information from the text of quarterly earnings calls. This information is not spanned by fundamental or market variables and forecasts future credit spread changes. One reason for such forecastability is that our text-based measure predicts future credit spread risk and firm profitability. More firm- and call-level complexity increase the forecasting power of our measure for spread changes. Out-of-sample portfolio tests show the information in our measure is valuable for investors. Both results suggest that investors do not fully internalize the credit-relevant information contained in earnings calls.

q-fin.GN

Wealth Effect on Portfolio Allocation in Incomplete Markets

We develop a novel five-component decomposition of optimal dynamic portfolio choice, which reveals the simultaneous impacts from market incompleteness and wealth-dependent utilities. Under the HARA utility and a nonrandom interest rate, we can explicitly solve for the optimal policy as a combination of a bond holding scheme and the corresponding simpler CRRA strategy. Under a stochastic volatility model estimated on US equity data, we use closed-form solution to demonstrate the sophisticated impacts from the wealth-dependent utilities, including cycle-dependence and hysteresis effect in optimal portfolio allocation, as well as a risk-return trade-off in investment performance.

q-fin.PM