Paper Overview
Field: NLP Authors: Kevin Du, Alexander Hoyle, Laura Ruis arXiv: 2609.04194
Motivation
Chain-of-thought (CoT) reasoning traces appear to offer a readable window into how a model arrives at its answer. A growing body of work treats them as interpretable: LLM judges are used to diagnose errors, assess faithfulness, and provide step-level supervision via process reward models and generative critics. These practices assume that the text of a reasoning step carries information about its functional role.
Method
The authors operationalize the importance of a reasoning step as its advantage: the change in expected reward (e.g., the probability of producing a correct answer) from including that step, estimated via Monte Carlo rollouts. These estimates serve as ground truth for judging step importance.
Findings
- LLM judges can identify high-advantage steps: sufficiently capable LLMs outperform a prevalence baseline.
- However, they fall well short of a noise ceiling, meaning much of the signal remains inaccessible.
- Fine-tuning models as step-level critics yields clear improvement on incorrect responses, but performance on correct responses remains far from the ceiling.
- Conclusion: step importance is only partially recoverable from the text of reasoning traces.
Implications
The findings caution against equating the *legibility* of reasoning traces with *interpretability*. This has important consequences for the growing CoT faithfulness literature and especially for process reward modeling and LLM-judge-based step-level supervision.
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