@booklet {somerstep2025carrotcostawarerate,
	title = {CARROT: A Cost Aware Rate Optimal Router},
	year = {2025},
	abstract = {With the rapid growth in the number of Large Language Models (LLMs), there has been a recent interest in LLM routing, or directing queries to the cheapest LLM that can deliver a suitable response. Following this line of work, we introduce CARROT, a Cost AwaRe Rate Optimal rouTer that can select models based on any desired trade-off between performance and cost. Given a query, CARROT selects a model based on estimates of models{\textquoteright} cost and performance. Its simplicity lends CARROT computational efficiency, while our theoretical analysis demonstrates minimax rate-optimality in its routing performance. Alongside CARROT, we also introduce the Smart Price-aware Routing (SPROUT) dataset to facilitate routing on a wide spectrum of queries with the latest state-of-the-art LLMs. Using SPROUT and prior benchmarks such as Routerbench and open-LLM-leaderboard-v2 we empirically validate CARROT{\textquoteright}s performance against several alternative routers.},
	url = {https://arxiv.org/abs/2502.03261},
	author = {Seamus Somerstep and Felipe Maia Polo and Allysson Flavio Melo de Oliveira and Prattyush Mangal and M{\'\i}rian Silva and Onkar Bhardwaj and Mikhail Yurochkin and Subha Maity}
}
