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Behavioral Predictive Modeling in Economics

 

DESCRIPTION

(Studies in Computational Intelligence (897)) 1st ed. 2021 Edition 

by Songsak Sriboonchitta (Editor), Vladik Kreinovich (Editor), Woraphon Yamaka (Editor) 

This book presents both methodological papers on and examples of applying behavioral predictive models to specific economic problems, with a focus on how to take into account people's behavior when making economic predictions. This is an important issue, since traditional economic models assumed that people make wise economic decisions based on a detailed rational analysis of all the relevant aspects. However, in reality – as Nobel Prize-winning research has shown – people have a limited ability to process information and, as a result, their decisions are not always optimal. Discussing the need for prediction-oriented statistical techniques, since many statistical methods currently used in economics focus more on model fitting and do not always lead to good predictions, the book is a valuable resource for researchers and students interested in the latest results and challenges and for practitioners wanting to learn how to use state-of-the-art techniques.

DETAILS:

Year: 2021
Pages: 335
Language: English
Format: PDF
Size: 11 MB
Publisher: Springer
ISBN-10: 3030497275
ISBN-13: 978-3030497279
ASIN: B08FBY44HJ
Tag: Download Book Behavioral Predictive Modeling in Economics