Computing Reviews
Today's Issue Hot Topics Search Browse Recommended My Account Log In
Review Help
Search
Computational intelligence in economics and finance : volume II
Chen S., Wang P., Kuo T., Springer-Verlag New York, Inc., Secaucus, NJ, 2007. 228 pp. Type: Book (9783540728207)
Date Reviewed: May 21 2008

The increasing use of computational intelligence (CI) has led to a growing interest in the subject. What is CI and what is its relationship to economics and finance? If you are interested in finding the answer to this question, you might want to read this book, which offers some relevant research works on CI applied to finance and economics.

In general, the book provides different applications of the most modern CI techniques, showing a new perspective for approaching finance and economics problems. The book contains 11 short papers and one reasonably long paper (“An overview of insurance uses of fuzzy logic”) organized according to the CI tools used. It presents novel economic and financial applications of CI, using fuzzy logic, artificial neural networks, and evolutionary computation.

The first paper (an overview) provides readers with a good understanding of CI and why it is needed in economics and finance, and some implementation challenges. It shows how to apply CI tools more effectively, and how to make CI a core competency in economics and finance.

Highlights of the book include a nice overview of CI for three core technologies: fuzzy, neural, and evolutionary. Each research area is described with several works and applications. In contrast to earlier applications of CI in economics and finance, the role that CI plays in this book in general helps us see that CI is not just used to solve and optimize already-established models and algorithms, but to help us define and model the problem itself. The paper on the application of fuzzy logic to the insurance field was particularly interesting; it helped me understand the scientific study of insurance processes.

The book provides a starting point for those who have both a technical and an economic/finance background, but who are new to CI in finance and economics. In particular, the first chapter is a must if you are new to CI. It is also worth noting that readers with no technical background will find this book to be a bit challenging. In addition, this book provides no comprehensive introduction to economic and finance applications.

Reviewer:  Norita Ahmad Review #: CR135619 (0903-0236)
Bookmark and Share
 
General (I.2.0 )
 
 
Economics (J.4 ... )
 
 
Financial (J.1 ... )
 
 
General (G.0 )
 
Would you recommend this review?
yes
no
Other reviews under "General": Date
Artificial experts: social knowledge and intelligent machines
Collins H., MIT Press, Cambridge, MA, 1990. Type: Book (9780262031684)
Apr 1 1991
Catalogue of artificial intelligence techniques
Bundy A., Springer-Verlag New York, Inc., New York, NY, 1990. Type: Book (9780387529592)
Aug 1 1991
Knowledge and inference
Nagao M., Academic Press Prof., Inc., San Diego, CA, 1990. Type: Book (9780125136624)
Oct 1 1991
more...

E-Mail This Printer-Friendly
Send Your Comments
Contact Us
Reproduction in whole or in part without permission is prohibited.   Copyright 1999-2024 ThinkLoud®
Terms of Use
| Privacy Policy