We argue that deep learning provides a promising avenue for taming the curse of dimensionality in quantitative economics. We begin by exploring the unique challenges posed by solving dynamic equilibrium models, especially the feedback loop between individual agents’ decisions and the aggregate...

During a long time, the Austrian Economic School was against any mathematical formalization in social and economic sciences because it would be opposed to an individualist point of view of social phenomenons. We try to find an quantitative individualism modelling way from a criticism of holist...

L'objet de ce papier n'est pas tant de présenter les principaux algorithmes utilisés en modélisation économique - nombre de manuels font des présentations de meilleure qualité et plus exhaustives - que d'en proposer une vision critique. Les modèles économiques, et plus particulièrement...

Economic theory tells that a command system allocates resources poorly because of the impossibility of economic calculation. Therefore, once prices are freed and start to operate at quasi-equilibrium (market-clearing) levels, the hidden inefficiencies come into the open and a massive resource...

The aim of this paper is to simulate profit expectations as an emergent property using an agent based model. The paper builds upon adaptive expectations, interactive expectations and small world networks, combining them into a single adaptive interactive profit expectations model (AIE)....

An algorithm for computing Dynamic Nash Equilibria (DNE) in an extended version of Kiyotaki and Wright (1989) (hereafter KW) is proposed. The algorithm computes the equilibrium pro.le of (pure) strategies and the evolution of the distribution of three types of assets across three types of...

The aim of this paper is to simulate profit expectations as an emergent property using an agent based model. The paper builds upon adaptive expectations, interactive expectations and small world networks, combining them into a single adaptive interactive profit expectations model (AIE)....