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Behavioral Predictive Modeling in Economics

Editat de Songsak Sriboonchitta, Vladik Kreinovich, Woraphon Yamaka
en Limba Engleză Hardback – 6 aug 2020
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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Specificații

ISBN-13: 9783030497279
ISBN-10: 3030497275
Pagini: 464
Ilustrații: IX, 451 p. 91 illus., 52 illus. in color.
Dimensiuni: 160 x 241 x 31 mm
Greutate: 0.86 kg
Ediția:1st ed. 2021
Editura: Springer
Locul publicării:Cham, Switzerland

Cuprins

Introduction.- Behavioral Predictive Modeling in Economics.- Conclusion.

Textul de pe ultima copertă

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. 

Caracteristici

Presents a state-of-the-art overview of what can be done and what should be done to incorporate behavioral predictive models into econometrics Showcases recently developed behavioral models Written by respected experts in the field