Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
A Review on Artificial Intelligence and Behavioral Macroeconomics
The intersection of artificial intelligence (AI) and behavioral economics represents a paradigm shift since both fields offer innovative approaches to make predictions and optimizing decision-making. In contrast, classical macroeconomics predominantly relies on rational, aggregate models to study macroeconomic conditions. Despite the considerable success in integrating behavioral insights into various economic fields, macroeconomics has seen a slower adaptation. This latency can be attributed to the challenge of scaling individual behavioral biases to a macro level. Moreover, the incorporation of AI into macroeconomics has faced challenges including data requirements and interpretability issues. However, AI and behavioral economics have individually showcased promising results in macroeconomic research. AI’s computational prowess facilitates sophisticated data analysis and predictive accuracy, while behavioral economics provides a more holistic interpretability of macroeconomic patterns by considering cognitive biases and heuristics. This synergy paves the way for a potential rise of AI-driven behavioral macroeconomics. This article aims to review the current progress in the application of AI across behavioral macroeconomic axes. The findings confirm the promise of AI-powered behavioral models in terms of both predictive accuracy and explanatory power. These results imply an emerging trend in the interdisciplinary field of AI and behavioral macroeconomics, thus paving the path for future research and applications in this domain.
A Review on Artificial Intelligence and Behavioral Macroeconomics
The intersection of artificial intelligence (AI) and behavioral economics represents a paradigm shift since both fields offer innovative approaches to make predictions and optimizing decision-making. In contrast, classical macroeconomics predominantly relies on rational, aggregate models to study macroeconomic conditions. Despite the considerable success in integrating behavioral insights into various economic fields, macroeconomics has seen a slower adaptation. This latency can be attributed to the challenge of scaling individual behavioral biases to a macro level. Moreover, the incorporation of AI into macroeconomics has faced challenges including data requirements and interpretability issues. However, AI and behavioral economics have individually showcased promising results in macroeconomic research. AI’s computational prowess facilitates sophisticated data analysis and predictive accuracy, while behavioral economics provides a more holistic interpretability of macroeconomic patterns by considering cognitive biases and heuristics. This synergy paves the way for a potential rise of AI-driven behavioral macroeconomics. This article aims to review the current progress in the application of AI across behavioral macroeconomic axes. The findings confirm the promise of AI-powered behavioral models in terms of both predictive accuracy and explanatory power. These results imply an emerging trend in the interdisciplinary field of AI and behavioral macroeconomics, thus paving the path for future research and applications in this domain.
A Review on Artificial Intelligence and Behavioral Macroeconomics
Lect. Notes in Networks, Syst.
Ben Ahmed, Mohamed (Herausgeber:in) / Boudhir, Anouar Abdelhakim (Herausgeber:in) / El Meouche, Rani (Herausgeber:in) / Karaș, İsmail Rakıp (Herausgeber:in) / Aoujil, Zakaria (Autor:in) / Hanine, Mohamed (Autor:in)
The Proceedings of the International Conference on Smart City Applications ; 2023 ; Paris, France
20.02.2024
10 pages
Aufsatz/Kapitel (Buch)
Elektronische Ressource
Englisch
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