Introduction to artificial intelligence in economics and finance theories

Abstract

This chapter provides a high-level introduction of artificial intelligence (AI) in economics and finance theories. It describes what AI is and how it is changing the field of finance and economics, particularly some of the key theories embedded in this field. Further, the chapter outlines the 13 chapters that are covered in this book. Following the introductory chapter, the book discusses the Solow Growth Theory, the Ricardian Theory, the Dual-Sector Theory, the Dynamic Inconsistent Theory; the Phillips Curve, the Laffer Curve, the Adverse Selection Theory, the Moral Hazard Theory; the Creative Destruction Theory, the Agency Theory, and the Legitimacy Theory and the Legitimacy Gap. Chapter 13 is provides the summary and conclusion.