LEADER 05091nam 22006375 450 001 996465445103316 005 20220307105316.0 010 $a3-030-42962-8 024 7 $a10.1007/978-3-030-42962-1 035 $a(CKB)4100000011231716 035 $a(DE-He213)978-3-030-42962-1 035 $a(MiAaPQ)EBC6192017 035 $a(PPN)248395076 035 $a(EXLCZ)994100000011231716 100 $a20200507d2020 u| 0 101 0 $aeng 135 $aurnn#008mamaa 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aArtificial Intelligence in Economics and Finance Theories$b[electronic resource] /$fby Tankiso Moloi, Tshilidzi Marwala 205 $a1st ed. 2020. 210 1$aCham :$cSpringer International Publishing :$cImprint: Springer,$d2020. 215 $a1 online resource (X, 125 p. 22 illus., 18 illus. in color.) 225 1 $aAdvanced Information and Knowledge Processing,$x1610-3947 320 $aIncludes bibliographical references and index. 327 $aIntroduction to Artificial Intelligence in Economics and Finance Theories -- The Growth Model -- Comparative Advantage -- The Dual-Sector Model -- Dynamic Inconsistency Theory -- The Philipps Curve -- The Laffer Curve -- Adverse Selection -- Moral Hazard -- Creative Destruction -- The Agency Theory -- The Legitimacy Theory and the Legitimacy Gap -- Synopsis: Artificial Intelligence in Finance and Economics Theories -- Index . 330 $aAs Artificial Intelligence (AI) seizes all aspects of human life, there is a fundamental shift in the way in which humans are thinking of and doing things. Ordinarily, humans have relied on economics and finance theories to make sense of, and predict concepts such as comparative advantage, long run economic growth, lack or distortion of information and failures, role of labour as a factor of production and the decision making process for the purpose of allocating resources among other theories. Of interest though is that literature has not attempted to utilize these advances in technology in order to modernize economic and finance theories that are fundamental in the decision making process for the purpose of allocating scarce resources among other things. With the simulated intelligence in machines, which allows machines to act like humans and to some extent even anticipate events better than humans, thanks to their ability to handle massive data sets, this book will use artificial intelligence to explain what these economic and finance theories mean in the context of the agent wanting to make a decision. The main feature of finance and economic theories is that they try to eliminate the effects of uncertainties by attempting to bring the future to the present. The fundamentals of this statement is deeply rooted in risk and risk management. In behavioural sciences, economics as a discipline has always provided a well-established foundation for understanding uncertainties and what this means for decision making. Finance and economics have done this through different models which attempt to predict the future. On its part, risk management attempts to hedge or mitigate these uncertainties in order for ?the planner? to reach the favourable outcome. This book focuses on how AI is to redefine certain important economic and financial theories that are specifically used for the purpose of eliminating uncertainties so as to allow agents to make informed decisions. In effect, certain aspects of finance and economic theories cannot be understood in their entirety without the incorporation of AI. 410 0$aAdvanced Information and Knowledge Processing,$x1610-3947 606 $aArtificial intelligence 606 $aEconomic theory 606 $aComputers 606 $aArtificial Intelligence$3https://scigraph.springernature.com/ontologies/product-market-codes/I21000 606 $aEconomic Theory/Quantitative Economics/Mathematical Methods$3https://scigraph.springernature.com/ontologies/product-market-codes/W29000 606 $aInformation Systems and Communication Service$3https://scigraph.springernature.com/ontologies/product-market-codes/I18008 606 $aIntel·ligència artificial$2thub 606 $aTeoria econòmica$2thub 608 $aLlibres electrònics$2thub 615 0$aArtificial intelligence. 615 0$aEconomic theory. 615 0$aComputers. 615 14$aArtificial Intelligence. 615 24$aEconomic Theory/Quantitative Economics/Mathematical Methods. 615 24$aInformation Systems and Communication Service. 615 7$aIntel·ligència artificial 615 7$aTeoria econòmica 676 $a330.028563 700 $aMoloi$b Tankiso$4aut$4http://id.loc.gov/vocabulary/relators/aut$0872325 702 $aMarwala$b Tshilidzi$4aut$4http://id.loc.gov/vocabulary/relators/aut 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a996465445103316 996 $aArtificial Intelligence in Economics and Finance Theories$91947571 997 $aUNISA