Daniel Kaiser
CV

PhD Fellow · Integreat & UiT · Tromsø, 69.6° N

I study when more reasoning is worth it.

Reasoning models can think longer to answer better. How much that helps depends on the question. My PhD measures this. I build benchmarks where the sources of difficulty can be set one at a time, I measure what the extra tokens actually buy, and I test rules that decide per question how much to think.

I am a PhD Fellow at Integreat and UiT The Arctic University of Norway, supervised by Arnoldo Frigessi and Benjamin Ricaud. Before that I spent six years in Zurich, first as a quant at Rothschild & Co, then as a data scientist and ML engineer. I did my MSc by Research at Oxford on an Oxford-Man Institute scholarship and have written software since 2008.

PhD ends in 2027. Open to research visits in spring 2027 and to postdoc and research roles from autumn 2027. Get in touch →

Lab
Fig. 0 Physarum polycephalum, live. It grows everywhere, keeps the paths that pay off and withdraws from the rest. No brain involved. It runs live in your browser. How it works →

01Research

Three papers on one question

Reasoning models trade computation for accuracy, and the exchange rate changes from question to question. The three PhD papers build on each other. The first measures what makes a problem hard, the second what the extra tokens buy, the third when to spend them.

  1. 01 · Diagnose What makes a problem hard?
    Fitted accuracy against task length for four reasoning models on CogniLoad 20 50 100 250 050100 statements N (log) % correct, fitted GPT-5 Qwen3-8B Qwen3-32B DeepSeek-R1
    Task length is the dominant constraint across 22 reasoning models. Difficulty and distractors compound with it. CogniLoad
  2. 02 · Account What do the extra tokens buy?
    Relative cost of Qwen3.5-27B against GPT-OSS-120B on ZebraLogic reverses from 4.49 times at low workload to 0.78 times at high workload 0.5× 1× 2× 4× equal cost 4.49× 0.78× low workload high workload tokens: Qwen3.5-27B ÷ GPT-OSS-120B, ZebraLogic
    Cost gaps persist among correct answers, and relative cost changes with workload. On ZebraLogic it reverses. Beyond Accuracy
  3. 03 · Allocate When should a model think longer?
    Tokens saved within half an accuracy point of always-high effort: 17.8 percent with one setting per benchmark, 19.2 with text forecasts, 43.8 with per-question oracle-like choice tokens saved vs. always-high, within 0.5 accuracy points always high effort reference one setting per benchmark −17.8% + forecasts from question text −19.2% per question, oracle-like −43.8% the gap: model-specific, mostly unforecast
    One setting per benchmark saves 17.8% of tokens. Choosing per question would save 43.8%. Forecasts from the question text recover little of the gap. When Is More Reasoning Worth It?
01 ICLR 2026

Benchmarks for long-context reasoning blur task length, intrinsic complexity and distractor interference, so a failure rarely says what failed. CogniLoad, grounded in Cognitive Load Theory, generates natural-language logic puzzles with three parameters that move independently, intrinsic difficulty d, distractor-to-signal ratio ρ and task length N. Across 22 reasoning models, task length is the dominant constraint, tolerance to intrinsic complexity varies widely and the response to distractor ratio is U-shaped. A fitted response model gives every model a capacity profile.

02 Under review · 2026

Accuracy per token summarises reasoning efficiency but does not say whether differences come from failed attempts, costly successful answers or reasoning that is long relative to what a problem demands. A two-layer, exact decomposition separates answer availability, correctness among available answers and generation cost, then relates cost to task structure. Across 785,541 responses on twelve benchmarks, cost gaps persist among correct answers and relative cost changes with workload. It can even reverse. On ZebraLogic, Qwen3.5-27B costs 4.49 times GPT-OSS-120B at low workload and 0.78 times at high workload.

03 Under review · 2026

When Is More Reasoning Worth It?

Daniel Kaiser, Benjamin Ricaud

Models expose a reasoning-effort setting that is fixed in advance for every question, yet the value of extra thinking varies between questions. We build a controlled evaluation of effort selection and release its data, repeated responses from nine open models at every effort setting on the same 2,518 questions across ten benchmarks. Within half an accuracy point of always using high effort, one setting per benchmark saves 17.8% of generated tokens. Choosing per question with oracle-like knowledge would save 43.8%. Predicting from question text or checking agreement among cheap-model answers, with every call charged, recovers only a small part of that gap.

Earlier and adjacent

02a NeurIPS 2025 · Workshop

Decomposing Reasoning Efficiency

Daniel Kaiser, Arnoldo Frigessi, Ali Ramezani-Kebrya, Benjamin Ricaud

The workshop paper that started the efficiency line, later expanded into Beyond Accuracy. It evaluates reasoning not only by correctness but by how many generated tokens each solved puzzle costs.

00 SSRN · 2020

Machine Learning-Based Financial Statement Analysis

Amir Amel-Zadeh, Jan-Peter Calliess, Daniel Kaiser, Stephen Roberts

The paper version of my Oxford MSc by Research thesis, with Amir Amel-Zadeh, Jan-Peter Calliess and Stephen Roberts: machine learning applied to quantitative financial-statement data to forecast stock movements. Top 0.3% of SSRN papers by all-time downloads and second place in the CQA Fall 2020 academic competition.

03Background

Finance, engineering, then research

I came to research through quantitative finance and six years of production engineering in Zurich. It shows in how I work. I measure carefully, I build pipelines that run at scale, and I want results that somebody can act on.

Full curriculum vitae

Now

2024 –now

PhD Fellow, Machine Learning · Integreat & UiT The Arctic University of Norway · Tromsø / Oslo

Test-time compute and reasoning efficiency in large language models. Experiments on the LUMI supercomputer (EuroHPC) and on commercial APIs. Three papers so far, one at ICLR 2026 and two under review.

Industry, Zurich

2023 – 24

Machine Learning Engineer · Orderfox

Fine-tuned and self-hosted multimodal LLMs for structured extraction, replacing third-party APIs. Load-scaling ML services on AWS with Terraform. Multimodal embeddings for CNC machining.

2023

Data Engineer, then consultant · CH Media

Snowflake warehouse and behavioural-data pipelines for regional news portals. Serverless ingestion on AWS. A real-time store for article recommendations.

2022

Data Scientist · Smallpdf

Transformers for document AI in three product teams. Causal models of churn, lifetime value and revenue. Experiments on large event logs.

2020 – 21

Quant · Rothschild & Co

Quantitative investment management for discretionary multi-asset mandates. Allocation and hedging models, automated reporting, monitoring and scoring.

2019 – 20

ML Research Scientist · avax / Deep Impact · Winterthur

Real-time biometric face recognition and re-identification pipelines (CUDA, TensorRT, DeepStream). Swiss security clearance.

Education

2024 –now

PhD, Machine Learning · UiT The Arctic University of Norway, with Integreat

Thesis on test-time compute and reasoning efficiency in large language models. Supervised by Arnoldo Frigessi and Benjamin Ricaud, with Ali Ramezani-Kebrya. Expected 2027.

2018 – 20

MSc by Research, Engineering Science · University of Oxford, Mansfield College

Thesis “Machine Learning Based Financial Statement Analysis”, with Stephen Roberts, Jan-Peter Calliess and Amir Amel-Zadeh. Full scholarship from the Oxford-Man Institute of Quantitative Finance. Completed in half the standard time. Commendation from the MPLS Division for the viva.

2014 – 17

BSc Economics · WU Vienna University of Economics and Business

Quantitative economics and econometrics. Thesis “Deep Learning Fundamental Market Valuations”, presented at IPAM, UCLA (2018). Top 1% of a 3,200-student cohort by study speed.

2008 – 13

Higher Technical School, Computer Science · HTL St. Pölten

Thesis on high-performance computing on virtualised GPUs in the cloud. Graduated with high distinction.

Earlier, Vienna

2017 – 18

Co-founder · plan.uni

Non-profit course-scheduling web app used by more than 10,000 students, with several awards. A large single-page app, native PWAs and distributed crawling.

2014 – 17

Liquidity risk, tax technology, portfolio management · Raiffeisen Bank International · PwC Austria · KA Finanz

Liquidity risk for 15 network banks and Basel III reporting at RBI. A big-data tax platform at PwC. Fixed-income analysis at KA Finanz. All alongside the BSc.

In progress

  • Whether a frozen language model can use another model’s internal states. Agreement on the next token improved before, but controls explained much of the gain, so this round tests behaviour directly against simple baselines and stops on a fixed date.
  • An open dataset of scored responses at every native effort setting of nine models, with token counts and grading code, meant as training targets and a benchmark for models that learn how much to think.
  • Forecasting where extra reasoning helps, model by model. Gains repeat within a model but are barely shared across families, which is why predictors from the question text alone close so little of the gap to per-question choice.
  • The thesis, which ties the three papers into one argument. Averages hide most of what matters, so evaluation has to look at single questions and single models rather than leaderboards.

What I work with

  • Research since 2018

    Measurements that hold up

    • Controlled evaluation design
    • Factorial experiments
    • Exact decompositions
    • Paired bootstrap and simultaneous inference
    • Causal inference
  • Models since 2017

    Large models, evaluated and served

    • PyTorch and Hugging Face
    • Fine-tuning and quantisation
    • LLM serving at scale
    • Multimodal embeddings
    • Reasoning-model evaluation
  • Systems since 2008

    Pipelines that run at scale

    • Python, TypeScript, Rust, Elixir, C/C++, SQL
    • AWS, Kubernetes, Terraform
    • Snowflake, Spark, Kafka, dbt
    • GPU cluster jobs on LUMI

Recognition and service

  • Reviewer for NeurIPS, ICLR, ICML and NLDL.
  • Top 0.3% of SSRN papers by downloads, top 1.5% of SSRN authors.
  • Second place, Chicago Quantitative Alliance academic competition, Fall 2020.
  • Oxford-Man Institute scholarship and an MPLS Division commendation for the viva.
  • Invited talk on deep learning for market valuation at IPAM, UCLA, 2018.
  • Lectures in a Generative AI course and at seminars and workshops.