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Events

CEMAP Seminar Series: Pablo Winant, Paris School of Economics

Wednesday, 19 June 2019
12:00 to 13:00
Dr Pablo Winant Bank of England, Paris School of Economics
Durham University Business School Room 405

Title: Will Artificial Intelligence Replace Computational Economists Any Time Soon

Abstract:

It is standard to assume in economics that economic agents have unlimited computational capacities to solve rational expectations models. In turn, computational economists solve such models by designing sophisticated numerical algorithms that require substantial computer power. In this paper, we ask whether a generic artiÖcial intelligence (AI) algorithm is capable of replacing computational economists so that there is no need to write model-speciÖc code. We address this question in the context of the stylized consumption-saving problem with borrowing constraints. We show how to cast such a problem into the form suitable for AI, and we solve it with standard AI software, namely, Googleís TensorFlow library.

About the speaker click here

CEMAP Seminar Series: Pablo Winant, Paris School of Economics

Wednesday, 19 June 2019
12:00 to 13:00
Dr Pablo Winant Bank of England, Paris School of Economics
Durham University Business School Room 405

Title: Will Artificial Intelligence Replace Computational Economists Any Time Soon

Abstract:

It is standard to assume in economics that economic agents have unlimited computational capacities to solve rational expectations models. In turn, computational economists solve such models by designing sophisticated numerical algorithms that require substantial computer power. In this paper, we ask whether a generic artiÖcial intelligence (AI) algorithm is capable of replacing computational economists so that there is no need to write model-speciÖc code. We address this question in the context of the stylized consumption-saving problem with borrowing constraints. We show how to cast such a problem into the form suitable for AI, and we solve it with standard AI software, namely, Googleís TensorFlow library.

About the speaker click here