Conformal Thinking: Risk Control for Reasoning on a Compute Budget

Reasoning Large Language Models (LLMs) enable test-time scaling, with dataset-level accuracy improving as the token budget increases, motivating adaptive reasoning—spending tokens when they improve reliability and stopping early when additional computation is unlikely to help. However, setting the token budget, as well as the threshold for adaptive reasoning, is a practical challenge that entails a fundamental risk-accuracy trade-off. We re-frame the budget setting problem as risk control, limit...