Valid \ne Necessary: Diagnosing Latent Inefficiency in Chain-of-Thought

Chain-of-Thought (CoT) has significantly enhanced LLM reasoning, yet often incurs substantial computational overhead due to "overthinking": generating excessively long rationales without commensurate accuracy gains. Existing efficiency methods typically apply uniform compression, which overlooks a critical observation that reasoning complexity is heterogeneous at two distinct granularity: across different problems and within individual reasoning steps. This motivates our principle of Thinking Economically: intelligently allocating computational resources based on intrinsic task and step demands rather than pursuing uniform brevity. We propose Hierarchical Adaptive Budgeter (HAB), a training framework that operationalizes this principle through coarse-to-fine budgeting. At the inter-step level, HAB predicts the optimal reasoning depth for each problem. At the intra-step level, HAB learns step-specific token budgeting signals from PPL-derived step comparisons and an adaptive Pareto optimization objective that captures the local quality-efficiency trade-off, while a Fisher Information-based pruner further provides fine-grained training-time guidance, thereby encouraging the generator to internalize more economical reasoning patterns. Experiments on GSM8K and MATH500 show that HAB not only surpasses standard CoT in accuracy but also reduces token usage, achieving a stronger performance-efficiency trade-off than the compared baselines.

Extended chain-of-thought (CoT) traces improve LLM reasoning but incur substantial computational and memory costs. While existing CoT compression methods mitigate this by condensing thought steps into compact representations via memory tokens and retaining only these representations at inference time, the loss of fine-grained information makes subsequent steps more error-prone. To alleviate this, we propose \textbf{HybridThinker}, where in addition to preserved these representations, thought steps are also temporarily retained to provide fine-grained details. However, we observe that naively keeping thought steps accessible to subsequent steps \emph{during training} lets the model bypass memory tokens by retrieving information directly from these steps, leaving the model's ability to compress and retrieve information through memory tokens insufficiently trained. We therefore introduce a hybrid training scheme, in which only some thought steps are directly accessible through attention to subsequent steps, while the other thought steps are masked, forcing the model to use memory tokens for compression and retrieval. Across 4 reasoning benchmarks, HybridThinker matches the uncompressed baseline, advancing the state of the art in CoT compression by 5.8 points on average accuracy with similar inference time. Ablation studies confirm that both temporary thought-step retention and the hybrid training scheme contribute to these gains.

Large reasoning models (LRMs) often exhibit overthinking, producing verbose Chain-of-Thought (CoT) traces that increase inference cost and obscure the underlying reasoning process. Existing CoT compression methods mainly rely on global length rewards, which conflate necessary intermediate reasoning with redundant text and may therefore compromise reasoning fidelity. This paper revisits overthinking from a semantic-efficiency perspective and decomposes CoT redundancy into two distinct forms: internal redundancy, defined as informational stagnation before the first correct answer, and external redundancy, defined as superfluous continuation after the first correct answer. Based on this decomposition, we propose a dual-penalty reinforcement learning framework that separately optimizes reasoning progress and termination behavior. Specifically, a sliding-window semantic similarity metric penalizes low-progress reasoning segments, while a normalized external-redundancy metric discourages post-answer continuation. Experiments on GSM8K, MATH500, and AIME24 across different model scales show that our method reduces average reasoning length by 41.3% on the 1.5B model and 40.1% on the 7B model, while preserving competitive accuracy and achieving the best overall accuracy-efficiency score among evaluated baselines. The learned compression behavior further transfers to out-of-domain reasoning tasks, including GPQA and LiveCodeBench. More importantly, our analysis reveals a clear asymmetry between the two redundancy types: external redundancy can be largely removed with little performance loss, whereas internal redundancy compression follows a sensitive accuracy-efficiency trade-off. These results suggest that effective CoT compression should optimize semantic efficiency rather than sequence length alone, offering a principled route toward more concise, efficient, and interpretable LRMs.