Original title: On the information-based approaches in economics and finance
Authors: Kalina, Jan
Document type: Papers
Conference/Event: International Days of Statistics and Economics /18./, Prague (CZ), 20240905
Year: 2024
Language: eng
Abstract: The amount of information relevant for decision making in economic and financial applications keeps dramatically increasing. This will allow a radical transformation of economic and financial practices towards the ideals that may be denoted as informationbased. These information-based procedures will exploit modern statistical tools for extracting useful knowledge from the available information in the form of data. This paper is devoted to a discussion of information-based approaches to investing, which will be based on portfolio diversification and optimization, or to transfer learning, where the last is based on information flow from given learning tasks (especially in finance) to a new related task. In addition, a novel robust procedure for estimating the parameters of the Gompertz curve is proposed here. On the whole, the information-based approaches in economics and finance will definitely go beyond the currently discussed evidence-based approaches, which are inspired by the currently popular concept of the evidence-based medicine.
Keywords: information flow; information sciences; nonlinear regression; robust estimation; transfer learning
Project no.: GA24-11146S (CEP)
Funding provider: GA ČR
Host item entry: The 18th International Days of Statistics and Economics Conference Proceedings, ISBN 978-80-87990-34-6

Institution: Institute of Computer Science AS ČR (web)
Document availability information: Fulltext is available at external website.
External URL: https://msed.vse.cz/msed_2024/article/msed-2024-756-paper.pdf
Original record: https://hdl.handle.net/11104/0360194

Permalink: http://www.nusl.cz/ntk/nusl-669372


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