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Behavioral predictive modeling in ec...

Sriboonchitta, Songsak.

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Behavioral predictive modeling in economics

Record Type:	Electronic resources : Monograph/item
Title/Author:	Behavioral predictive modeling in economics/ edited by Songsak Sriboonchitta, Vladik Kreinovich, Woraphon Yamaka.
other author:	Sriboonchitta, Songsak.
Published:	Cham :Springer International Publishing : : 2021.,
Description:	ix, 451 p. :ill., digital ;24 cm.
[NT 15003449]:	Introduction -- Behavioral Predictive Modeling in Economics -- Conclusion.
Contained By:	Springer Nature eBook
Subject:	Econometrics. -
Online resource:	https://doi.org/10.1007/978-3-030-49728-6
ISBN:	9783030497286

Behavioral predictive modeling in economics
Behavioral predictive modeling in economics[electronic resource] /edited by Songsak Sriboonchitta, Vladik Kreinovich, Woraphon Yamaka. - Cham :Springer International Publishing :2021. - ix, 451 p. :ill., digital ;24 cm. - Studies in computational intelligence,v.8971860-949X ;. - Studies in computational intelligence ;v.897..

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

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.

ISBN: 9783030497286

Standard No.: 10.1007/978-3-030-49728-6doiSubjects--Topical Terms:

542934
Econometrics.

LC Class. No.: HB139 / .B44 2021

Dewey Class. No.: 330.015195

Behavioral predictive modeling in economics
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505 0 $a Introduction -- Behavioral Predictive Modeling in Economics -- Conclusion.
520 $a 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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