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Applications of Modern Mathematics in Economics and Finance

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Book cover Soft Computing in Economics and Finance

Part of the book series: Intelligent Systems Reference Library ((ISRL,volume 6))

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Abstract

Nowadays the dominating paradigms of economic theories are based on the classical mathematics and presented in terms of probabilistic and statistical methods. These methods may be treated as the traditional ones. As the applications of them in finance and economics are well presented in numerous papers, books and textbooks, the detailed description of these applications is out of scope of this book. It should be emphasized that in applications, the probabilistic and statistical methods are often and successfully used in the synthesis with modern methods of soft computing. Now it is understood that in applications we often deal with different types of uncertainty (not only of probabilistic nature). Therefore, this chapter presents a brief overview of the applications of modern methods of soft computing in economics and finance and the problems which were revealed in the process of these methods implementation.

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Dymowa, L. (2011). Applications of Modern Mathematics in Economics and Finance. In: Soft Computing in Economics and Finance. Intelligent Systems Reference Library, vol 6. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-17719-4_2

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