Economic Modeling Using Artificial Intelligence Methods
Economic Modeling Using Artificial Intelligence Methods examines the application of artificial intelligence methods to model economic data. Traditionally, economic modeling has been modeled in the linear domain where the principles of superposition are va
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Tshilidzi Marwala
Economic Modeling Using Artificial Intelligence Methods
Economic Modeling Using Artificial Intelligence Methods
Advanced Information and Knowledge Processing Series Editors Professor Lakhmi Jain [email protected] Professor Xindong Wu [email protected]
For further volumes: http://www.springer.com/series/4738
Tshilidzi Marwala
Economic Modeling Using Artificial Intelligence Methods
123
Tshilidzi Marwala Faculty of Engineering and the Built Environment University of Johannesburg Johannesburg South Africa
ISSN 1610-3947 ISBN 978-1-4471-5009-1 ISBN 978-1-4471-5010-7 (eBook) DOI 10.1007/978-1-4471-5010-7 Springer London Heidelberg New York Dordrecht Library of Congress Control Number: 2013935647 © Springer-Verlag London 2013 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. Exempted from this legal reservation are brief excerpts in connection with reviews or scholarly analysis or material supplied specifically for the purpose of being entered and executed on a computer system, for exclusive use by the purchaser of the work. Duplication of this publication or parts thereof is permitted only under the provisions of the Copyright Law of the Publisher’s location, in its current version, and permission for use must always be obtained from Springer. Permissions for use may be obtained through RightsLink at the Copyright Clearance Center. Violations are liable to prosecution under the respective Copyright Law. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. While the advice and information in this book are believed to be true and accurate at the date of publication, neither the authors nor the editors nor the publisher can accept any legal responsibility for any errors or omissions that may be made. The publisher makes no warranty, express or implied, with respect to the material contained herein. Printed on acid-free paper Springer is part of Springer Science+Business Media (www.springer.com)
Foreword
The quest to find an economic theory that is able to explain all economic activities has alluded both theorists and practitioners alike. If such a theory can be discussed it will usher a new area where a desired economic outcome can be engineered and the social dividends that can be harnessed from this are substantial. However, despite this limitation it has been quite possible to model aspects of the economy separately. For example, it is quite possible to
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