Applications of Artificial Neural Networks in Economics and Finance

Applications of Artificial Neural Networks in Economics and Finance

Iva Mihaylova (University of St. Gallen, Switzerland)
DOI: 10.4018/978-1-5225-7368-5.ch073

Abstract

Artificial neural networks (ANNs) are a powerful technique for multivariate dependence analysis. Originally inspired by neuroscience, ANNs are becoming an increasingly attractive analytic tool for applications in the area of economics and finance due to the flexible solutions they offer. The purpose of this chapter is to present such important applications with an emphasis on recent research trends. The contributions are grouped as follows: ANNs (1) for prediction, (2) for classification, and (3) for modelling. The chapter concludes with the future trends in the ANNs research in economics and finance.
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Main Focus Of The Article

The purpose of this section is to survey important applications of ANNs in economics and finance. Emphasis has been laid on recent research trends in contributions in which ANNs are the main empirical method or are combined with alternative research tools.

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