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Behavioral predictive modeling in economics / Songsak Sriboonchitta, Vladik Kreinovich, Woraphon Yamaka, editors.

9783030497286 (electronic bk.)
3030497283 (electronic bk.)
9783030497279 (hardback)
9783030497309 (paperback)

https://doi.org/10.1007/978-3-030-49728-6
https://doi.org/10.1007/978-3-030-49

Cham, Switzerland : Springer, [2021]

English

1 online resource

10.1007/978-3-030-49728-6 doi
10.1007/978-3-030-49 doi

HB139 .B44 2021

330.01/5195

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.

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Studies in computational intelligence ; v. 897.

Print version: 9783030497279
Behavioral predictive modeling in economics.

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