Deep Reinforcement Learning Emerging Trends In Macroeconomics And Future Prospects
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| Author | : Tohid Atashbar |
| Publisher | : International Monetary Fund |
| Total Pages | : 32 |
| Release | : 2022-12-16 |
| Genre | : Business & Economics |
| ISBN | : |
The application of Deep Reinforcement Learning (DRL) in economics has been an area of active research in recent years. A number of recent works have shown how deep reinforcement learning can be used to study a variety of economic problems, including optimal policy-making, game theory, and bounded rationality. In this paper, after a theoretical introduction to deep reinforcement learning and various DRL algorithms, we provide an overview of the literature on deep reinforcement learning in economics, with a focus on the main applications of deep reinforcement learning in macromodeling. Then, we analyze the potentials and limitations of deep reinforcement learning in macroeconomics and identify a number of issues that need to be addressed in order for deep reinforcement learning to be more widely used in macro modeling.
| Author | : Tohid Atashbar |
| Publisher | : International Monetary Fund |
| Total Pages | : 31 |
| Release | : 2023-02-24 |
| Genre | : Business & Economics |
| ISBN | : |
This study seeks to construct a basic reinforcement learning-based AI-macroeconomic simulator. We use a deep RL (DRL) approach (DDPG) in an RBC macroeconomic model. We set up two learning scenarios, one of which is deterministic without the technological shock and the other is stochastic. The objective of the deterministic environment is to compare the learning agent's behavior to a deterministic steady-state scenario. We demonstrate that in both deterministic and stochastic scenarios, the agent's choices are close to their optimal value. We also present cases of unstable learning behaviours. This AI-macro model may be enhanced in future research by adding additional variables or sectors to the model or by incorporating different DRL algorithms.
| Author | : Amir Mosavi |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2020 |
| Genre | : |
| ISBN | : |
The popularity of deep reinforcement learning (DRL) methods in economics have been exponentially increased. DRL, through a wide range of capabilities from reinforcement learning (RL) to deep learning (DL), offers vast opportunities for handling sophisticated economics dynamic systems. DRL is characterized by scalability with the potential to be applied to high-dimensional problems in conjunction with noisy and nonlinear patterns of economic data. In this paper, we initially consider a brief review of DL, RL, and deep RL methods in diverse applications in economics, providing an in-depth insight into state of the art. Furthermore, the architecture of DRL applied to economic applications is investigated in order to highlight the complexity, robustness, accuracy, performance, computational tasks, risk constraints, and profitability. The survey results indicate that DRL can provide better performance and higher efficiency as compared to the traditional algorithms while facing real economic problems at the presence of risk parameters and the ever-increasing uncertainties.
| Author | : |
| Publisher | : BoD – Books on Demand |
| Total Pages | : 132 |
| Release | : 2023-11-15 |
| Genre | : Computers |
| ISBN | : 1803569506 |
Deep learning and reinforcement learning are some of the most important and exciting research fields today. With the emergence of new network structures and algorithms such as convolutional neural networks, recurrent neural networks, and self-attention models, these technologies have gained widespread attention and applications in fields such as natural language processing, medical image analysis, and Internet of Things (IoT) device recognition. This book, Deep Learning and Reinforcement Learning examines the latest research achievements of these technologies and provides a reference for researchers, engineers, students, and other interested readers. It helps readers understand the opportunities and challenges faced by deep learning and reinforcement learning and how to address them, thus improving the research and application capabilities of these technologies in related fields.
| Author | : El Bachir Boukherouaa |
| Publisher | : International Monetary Fund |
| Total Pages | : 35 |
| Release | : 2021-10-22 |
| Genre | : Business & Economics |
| ISBN | : 1589063953 |
This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.
| Author | : Leslie Pack Kaelbling |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 286 |
| Release | : 1996-03-31 |
| Genre | : Computers |
| ISBN | : 0792397053 |
Recent Advances in Reinforcement Learning addresses current research in an exciting area that is gaining a great deal of popularity in the Artificial Intelligence and Neural Network communities. Reinforcement learning has become a primary paradigm of machine learning. It applies to problems in which an agent (such as a robot, a process controller, or an information-retrieval engine) has to learn how to behave given only information about the success of its current actions. This book is a collection of important papers that address topics including the theoretical foundations of dynamic programming approaches, the role of prior knowledge, and methods for improving performance of reinforcement-learning techniques. These papers build on previous work and will form an important resource for students and researchers in the area. Recent Advances in Reinforcement Learning is an edited volume of peer-reviewed original research comprising twelve invited contributions by leading researchers. This research work has also been published as a special issue of Machine Learning (Volume 22, Numbers 1, 2 and 3).
| Author | : Shubham Mahajan |
| Publisher | : John Wiley & Sons |
| Total Pages | : 421 |
| Release | : 2024-10-29 |
| Genre | : Computers |
| ISBN | : 1394272553 |
This book serves as a bridge connecting the theoretical foundations of DRL with practical, actionable insights for implementing these technologies in a variety of industrial contexts, making it a valuable resource for professionals and enthusiasts at the forefront of technological innovation. Deep Reinforcement Learning (DRL) represents one of the most dynamic and impactful areas of research and development in the field of artificial intelligence. Bridging the gap between decision-making theory and powerful deep learning models, DRL has evolved from academic curiosity to a cornerstone technology driving innovation across numerous industries. Its core premise—enabling machines to learn optimal actions within complex environments through trial and error—has broad implications, from automating intricate decision processes to optimizing operations that were previously beyond the reach of traditional AI techniques. “Deep Reinforcement Learning and Its Industrial Use Cases: AI for Real-World Applications” is an essential guide for anyone eager to understand the nexus between cutting-edge artificial intelligence techniques and practical industrial applications. This book not only demystifies the complex theory behind deep reinforcement learning (DRL) but also provides a clear roadmap for implementing these advanced algorithms in a variety of industries to solve real-world problems. Through a careful blend of theoretical foundations, practical insights, and diverse case studies, the book offers a comprehensive look into how DRL is revolutionizing fields such as finance, healthcare, manufacturing, and more, by optimizing decisions in dynamic and uncertain environments. This book distills years of research and practical experience into accessible and actionable knowledge. Whether you’re an AI professional seeking to expand your toolkit, a business leader aiming to leverage AI for competitive advantage, or a student or academic researching the latest in AI applications, this book provides valuable insights and guidance. Beyond just exploring the successes of DRL, it critically examines challenges, pitfalls, and ethical considerations, preparing readers to not only implement DRL solutions but to do so responsibly and effectively. Audience The book will be read by researchers, postgraduate students, and industry engineers in machine learning and artificial intelligence, as well as those in business and industry seeking to understand how DRL can be applied to solve complex industry-specific challenges and improve operational efficiency.
| Author | : Jin-Kyu Jung |
| Publisher | : International Monetary Fund |
| Total Pages | : 34 |
| Release | : 2018-11-01 |
| Genre | : Computers |
| ISBN | : 1484382498 |
Forecasting macroeconomic variables is key to developing a view on a country's economic outlook. Most traditional forecasting models rely on fitting data to a pre-specified relationship between input and output variables, thereby assuming a specific functional and stochastic process underlying that process. We pursue a new approach to forecasting by employing a number of machine learning algorithms, a method that is data driven, and imposing limited restrictions on the nature of the true relationship between input and output variables. We apply the Elastic Net, SuperLearner, and Recurring Neural Network algorithms on macro data of seven, broadly representative, advanced and emerging economies and find that these algorithms can outperform traditional statistical models, thereby offering a relevant addition to the field of economic forecasting.
| Author | : Marc G. Bellemare |
| Publisher | : MIT Press |
| Total Pages | : 385 |
| Release | : 2023-05-30 |
| Genre | : Computers |
| ISBN | : 0262048019 |
The first comprehensive guide to distributional reinforcement learning, providing a new mathematical formalism for thinking about decisions from a probabilistic perspective. Distributional reinforcement learning is a new mathematical formalism for thinking about decisions. Going beyond the common approach to reinforcement learning and expected values, it focuses on the total reward or return obtained as a consequence of an agent's choices—specifically, how this return behaves from a probabilistic perspective. In this first comprehensive guide to distributional reinforcement learning, Marc G. Bellemare, Will Dabney, and Mark Rowland, who spearheaded development of the field, present its key concepts and review some of its many applications. They demonstrate its power to account for many complex, interesting phenomena that arise from interactions with one's environment. The authors present core ideas from classical reinforcement learning to contextualize distributional topics and include mathematical proofs pertaining to major results discussed in the text. They guide the reader through a series of algorithmic and mathematical developments that, in turn, characterize, compute, estimate, and make decisions on the basis of the random return. Practitioners in disciplines as diverse as finance (risk management), computational neuroscience, computational psychiatry, psychology, macroeconomics, and robotics are already using distributional reinforcement learning, paving the way for its expanding applications in mathematical finance, engineering, and the life sciences. More than a mathematical approach, distributional reinforcement learning represents a new perspective on how intelligent agents make predictions and decisions.
| Author | : Brandon Brown |
| Publisher | : Simon and Schuster |
| Total Pages | : 381 |
| Release | : 2020-03-16 |
| Genre | : Computers |
| ISBN | : 1638350507 |
Summary Humans learn best from feedback—we are encouraged to take actions that lead to positive results while deterred by decisions with negative consequences. This reinforcement process can be applied to computer programs allowing them to solve more complex problems that classical programming cannot. Deep Reinforcement Learning in Action teaches you the fundamental concepts and terminology of deep reinforcement learning, along with the practical skills and techniques you’ll need to implement it into your own projects. Purchase of the print book includes a free eBook in PDF, Kindle, and ePub formats from Manning Publications. About the technology Deep reinforcement learning AI systems rapidly adapt to new environments, a vast improvement over standard neural networks. A DRL agent learns like people do, taking in raw data such as sensor input and refining its responses and predictions through trial and error. About the book Deep Reinforcement Learning in Action teaches you how to program AI agents that adapt and improve based on direct feedback from their environment. In this example-rich tutorial, you’ll master foundational and advanced DRL techniques by taking on interesting challenges like navigating a maze and playing video games. Along the way, you’ll work with core algorithms, including deep Q-networks and policy gradients, along with industry-standard tools like PyTorch and OpenAI Gym. What's inside Building and training DRL networks The most popular DRL algorithms for learning and problem solving Evolutionary algorithms for curiosity and multi-agent learning All examples available as Jupyter Notebooks About the reader For readers with intermediate skills in Python and deep learning. About the author Alexander Zai is a machine learning engineer at Amazon AI. Brandon Brown is a machine learning and data analysis blogger. Table of Contents PART 1 - FOUNDATIONS 1. What is reinforcement learning? 2. Modeling reinforcement learning problems: Markov decision processes 3. Predicting the best states and actions: Deep Q-networks 4. Learning to pick the best policy: Policy gradient methods 5. Tackling more complex problems with actor-critic methods PART 2 - ABOVE AND BEYOND 6. Alternative optimization methods: Evolutionary algorithms 7. Distributional DQN: Getting the full story 8.Curiosity-driven exploration 9. Multi-agent reinforcement learning 10. Interpretable reinforcement learning: Attention and relational models 11. In conclusion: A review and roadmap
