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[Paper] Spend Less, Fit Better: Budget-Efficient Scaling Law Fitting via Active Experiment Selection

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Summary

Fitting scaling laws, crucial for planning multi-million dollar AI training runs, is currently a very expensive process that can cost millions itself. This paper introduces a budget-aware sequential experimental design approach to address this, treating it as a problem of selecting the most informative pilot experiments from a pool with heterogeneous costs. The goal is to maximize efficiency and information gain while minimizing the overall expenditure on fitting these critical laws.

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