Computational intelligence in economics and finance: carrying on the legacy of Herbert Simon

  • Authors:
  • Shu-Heng Chen

  • Affiliations:
  • AI-ECON Research Center, Department of Economics, National Chengchi University, Taipei 116, Taiwan

  • Venue:
  • Information Sciences: an International Journal - Special issue: Computational intelligence in economics and finance
  • Year:
  • 2005

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Abstract

This is an editorial guide for the special issue on computational intelligence (CI) in economics and finance. A historical introduction to the background is given. This research paradigm is traced back to Herbert Simon, who, as a founder of artificial intelligence, pioneered the applications of AI to economics. The move from the classical AI to CI indicates a continuation of the legacy of Herbert Simon. Computational intelligence has proved to be a constructive foundation for economics. In responding to what Herbert Simon referred as procedural rationality, our study of bounded rationality has been enriched by bringing autonomous agents into the economic analysis.