Econometrics and Data Science: Apply Data Science Techniques to Model Complex Problems and Implement Solutions for Economic Problems

© The Author(s), under exclusive license to APress Media, LLC, part of Springer Nature 2022

T. C. NokeriEconometrics and Data Sciencehttps://doi.org/10.1007/978-1-4842-7434-7_8

8. Solving Economic Problems Applying Artificial Neural Networks

Tshepo Chris Nokeri¹  

(1)

Pretoria, South Africa

 

Deep learning extends machine learning by using artificial neural networks to operate a set of predictor variables and predict future response variables. Artificial neural networks are a group of nodes that receive input values in the input layer and transform them in the subsequent hidden layer (a layer in between the input and output layer). This hidden layer transforms the nodes and allots varying weights (vector parameters that determine the extent of influence ...