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Management of Financial Bubbles as Control Technology of Digital Economy

  • Gennady RossEmail author
  • Vladimir Liechtenstein
Conference paper
Part of the Advances in Intelligent Systems and Computing book series (AISC, volume 724)

Abstract

Discusses the growing role of financial bubbles in the digital economy, which is characterized by the use of artificial intelligence (AI) and the Internet for decision-making on the basis of raw data. It is shown that the classical market paradigm, according to which supply and demand are balanced through price, does not work. Proposed a new paradigm based on the theory of equilibrium stochastic processes (ESP), which argues that economic agents are guided by their risks. The classical paradigm is a special case of the new paradigm. Under the new paradigm offers ways of measuring financial bubbles and management by it.

Keywords

Financial bubbles Digital economy Management Market Equilibrium paradigm The evolutionary-simulation methodology The equilibrium stochastic process 

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Copyright information

© Springer International Publishing AG 2018

Authors and Affiliations

  1. 1.Financial UniversityMoscowRussia

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