Artificial Intelligence and Economic Theory: Skynet in the Market

This book explores the intersection of artificial intelligence and economic theories, including new concepts and applications in various fields.

This book provides a comprehensive update on major economic concepts such as demand and supply, rational choice, and behavioral economics in light of advancements in artificial intelligence. Artificial Intelligence and Economic Theory: Skynet in the Market delves into how AI influences traditional economic theories, introducing innovative concepts like rational counterfactuals and rational opportunity costs. These new theories are applied across various fields, including stock market modeling and credit scoring, showcasing the versatility and relevance of AI in modern economics.

The integration of artificial intelligence into economics is not merely theoretical; it has practical implications that are explored throughout the book. Techniques inspired by natural intelligence, such as neural networks and particle swarm optimization, are discussed in relation to their economic applications. Furthermore, the book examines the impact of AI on causality, referencing established models like Granger and Pearl, to illustrate how machine learning can enhance our understanding of economic interactions.

Artificial Intelligence and Economic Theory: Skynet in the Market ultimately serves as a bridge between traditional economic frameworks and the cutting-edge capabilities of AI. By presenting both theoretical advancements and practical applications, it invites readers to consider the transformative potential of AI in reshaping our understanding of economics and decision-making in the contemporary world.