Titlebook: Artificial Intelligence in Economics and Finance Theories; Tankiso Moloi,Tshilidzi Marwala Book 2020 Springer Nature Switzerland AG 2020 A

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Ataxia

Simulate

Comparative Advantage,tually flattened. We submit that AI will change the very nature of the Ricardian Theory in the sense that, as it evolves, it flattens the borders and possibly reduces reliance on labour. For instance, one information technology specialist can give guidance on how the application works over the Inter

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伟大

aneurysm

fleeting

The Laffer Curve, deal with such a development. With this introduction, no matter how many movements are in the personal income tax rate, until the government introduces taxes, say on computerized robots, it will not derive the revenue it was deriving prior to the introduction of intelligent machines. This poses a c

有恶臭

Adverse Selection,the IAS Conceptual Framework, we observe that it appears to be appealing to the conscience or ethics that economic agents should do what is morally correct, which is clear from the use of the word “fair”. The challenge of this approach is whether the economic agent could be persuaded to do what is f

值得尊敬

Moral Hazard, the fact that the decision whether to disclose material facts or not is dependent on one economic agent. If this agent is of the view that they could gain some advantage over their counterparties, in our view, it will be unlikely that there will be a disclosure of such information. In examining the

Archipelago

Creative Destruction,would have had enormous data of people that use it; we think that with the AI-powered analytics, the idea of creative destruction as espoused by Schumpeter (1942) would hold as far as technology is concerned. However, companies that would be pioneers of the time may not necessarily fold and close do