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Branch of modern economics
Recursive economics is a branch of modern economics based on a paradigm of individuals making a series of two-period optimization decisions over time
Recursive_economics
Necessary condition for optimality associated with dynamic programming
to dynamic programming as a "recursive method" and a subfield of recursive economics is now recognized within economics. Nancy Stokey, Robert E. Lucas
Bellman_equation
Application of complexity science to economics
complexity economics along with recursive economics and dynamical systems as contributions to these trends. They classify complexity economics as now mainstream
Complexity_economics
Problem optimization method
engineering and economics. In both contexts it refers to simplifying a complicated problem by breaking it down into simpler sub-problems in a recursive manner
Dynamic_programming
American economist and Nobel Laureate (born 1943)
robust control theory. Sargent has also been a pioneer in introducing recursive economics to academic study, especially for macroeconomic issues such as unemployment
Thomas_J._Sargent
Mathematical model for sequential decision making under uncertainty
Bellman equation for applications to economics. Hamilton–Jacobi–Bellman equation Optimal control Recursive economics Mabinogion sheep problem Stochastic
Markov_decision_process
Specification in economics of recursive utility
In economics, Epstein–Zin preferences refers to a specification of recursive utility. A recursive utility function can be constructed from two components
Epstein–Zin_preferences
Branch of applied mathematics
1985. Mathematical Economics, 2nd ed. Cambridge. Contents. Nancy L. Stokey and Robert E. Lucas with Edward Prescott, 1989. Recursive Methods in Economic
Mathematical_economics
Pattern defining an infinite sequence of numbers
Solving a recurrence relation means obtaining a closed-form solution: a non-recursive function of n {\displaystyle n} . The concept of a recurrence relation
Recurrence_relation
finding an optimal decision Paper bag problem Process optimization Recursive economics — individuals make a series of two-period optimization decisions
List of numerical analysis topics
List_of_numerical_analysis_topics
Hypothetical event
much easier to create than friendly AI. Both require large advances in recursive optimisation process design, but friendly AI also requires the ability
Technological_singularity
Violations of the convexity assumptions of elementary economics
Non-convexity (economics) is included in the JEL classification codes as JEL: C65 In economics, non-convexity refers to violations of the convexity assumptions
Non-convexity_(economics)
Economic view of human attention as a commodity
maximize the time and attention their users give to their product. Attention economics is an approach to the management of information that treats human attention
Attention_economy
American economist (born 1963)
macroeconomic theory, monetary economics, limited government commitment, and reputation. He is a professor in the Department of Economics at the University of Minnesota
Christopher_Phelan
In macroeconomics, recursive competitive equilibrium (RCE) is an equilibrium concept. It has been widely used in exploring a wide variety of economic
Recursive competitive equilibrium
Recursive_competitive_equilibrium
Framework in macroeconomics
Retrieved 2015-10-24. Lars Ljungqvist; Thomas J. Sargent (1 September 2004). Recursive Macroeconomic Theory. MIT Press. pp. 264–267. ISBN 978-0-262-12274-0.
Overlapping_generations_model
American mathematician (1909–1994)
introduction to intuitionistic logic and mathematical intuitionism. [...] recursive function theory is of central importance in computer science. Kleene is
Stephen_Cole_Kleene
Indian American economist
Jr, Barkley J (eds.). Recursive Competitive Equilibrium. In Palgrave Macmillan (eds.) The New Palgrave Dictionary of Economics. Palgrave Macmillan, London
Rajnish_Mehra
Australian psychologist (born 1958)
and the safety of vaccines. On 28 March 2013, Lewandowsky published "Recursive fury: Conspiracist ideation in the blogosphere in response to research
Stephan_Lewandowsky
Mathematical relation defining a sequence
state. Difference equations are used in a variety of contexts, such as in economics to model the evolution through time of variables such as gross domestic
Linear recurrence with constant coefficients
Linear_recurrence_with_constant_coefficients
Algorithm that estimates unknowns from a series of measurements over time
more weight given to estimates with greater certainty. The algorithm is recursive. It can operate in real time, using only the present input measurements
Kalman_filter
American economist
Economics, Statistics, and the Booth School of Business, at the University of Chicago and a 2013 recipient of the Nobel Memorial Prize in Economics.
Lars_Peter_Hansen
equilibrium Recursive competitive equilibrium, an economic equilibrium concept associated with a dynamic program Static equilibrium (economics), the intersection
List_of_types_of_equilibrium
Academic subfield of computer science
μ-recursive functions a computation consists of a mu-recursive function, i.e. its defining sequence, any input value(s) and a sequence of recursive functions
Theory_of_computation
Dutch-American econometrician
econometrics and statistics. He holds the Applied Econometrics Professorship in Economics at the Stanford Graduate School of Business at Stanford University, where
Guido_Imbens
Sum paid for the use of money
In finance and economics, interest is payment from a debtor or deposit-taking financial institution to a lender or depositor of an amount above repayment
Interest
Long-term change in dominant economic activity
Transformation in economics refers to a long-term change in dominant economic activity in terms of prevailing relative engagement or employment of able
Transformation_in_economics
Sequence of operations for a task
The Tower of Hanoi is a puzzle commonly solved using recursive implementation. Every recursive version has an equivalent (but possibly more or less complex)
Algorithm
American economist
of the premises of financial economics. She co-authored with Robert Lucas, Jr. and Edward Prescott a book on Recursive Methods in Economic Dynamics that
Nancy_Stokey
Spanish economist
financial economics and economic dynamic theory. He is an ICREA Research Professor at the Center for Research in International Economics [ca] (CREI)
Albert_Marcet
Topics referred to by the same term
Canadian Engineers, a former administrative corps of the Canadian army Recursive competitive equilibrium, an economic concept Request for continued examination
RCE
Swedish economist (born 1959)
12, 1959) is a Swedish economist probably best known as the author of Recursive Macroeconomic Theory, a standard graduate level textbook of modern macroeconomics
Lars_Ljungqvist
American economist and Nobel Laureate (1937–2023)
Lecture, 1995 Nobel Prize in Economics, December 7, 1995, Stokey, Nancy; Robert Lucas; and Edward Prescott (1989), Recursive Methods in Economic Dynamics
Robert_Lucas_Jr.
Canadian economist (born 1958)
is well known for his work on Epstein–Zin preferences which provide a recursive specification of a utility function which separates the elasticity of
Stan_Zin
Machine learning framework for portfolio construction
based on the clustering results, revealing a block diagonal structure. Recursive Bisection: Weights are assigned to assets through a top-down approach
Hierarchical_Risk_Parity
Class of economic models
to full multi-period dynamic CGE models. An alternative is recursive dynamics. Recursive-dynamic CGE models are those that can be solved sequentially
Computable general equilibrium
Computable_general_equilibrium
American economist
is the Alfred Cowles Professor of Economics at Yale University. Originally specializing in mathematical economics and general equilibrium theory, since
Truman_Bewley
Condition for a mathematical function to map some value to itself
An important fixed-point combinator is the Y combinator used to give recursive definitions. In denotational semantics of programming languages, a special
Fixed-point_theorem
Trait of a player in game theory
one. Hofstadter provided this definition: "Superrational thinkers, by recursive definition, include in their calculations the fact that they are in a
Superrationality
Topics referred to by the same term
provides a sentence element with additional information Center embedding, recursive nesting of an element in the middle of a similar element Embedded journalism
Embedded
Element mapped to itself by a mathematical function
interpretation. In type theory, the fixed-point combinator allows definition of recursive functions in the untyped lambda calculus. The vector of PageRank values
Fixed_point_(mathematics)
Statistical hypothesis test for forecasting
reflect "mere" correlations, but Clive Granger argued that causality in economics could be tested for by measuring the ability to predict the future values
Granger_causality
Norwegian economist and Nobel Laureate (1911–1999)
1198/016214504000001880. S2CID 842793. Strotz, R.H.; Wold, H.O.A. (1960). "Recursive versus nonrecursive systems: An attempt at synthesis". Econometrica. 28
Trygve_Haavelmo
Intelligence of machines
neural networks, and methods based on statistics, operations research, and economics. AI also draws upon psychology, linguistics, philosophy, neuroscience
Artificial_intelligence
American lawyer, law professor, and policy advocate
Report,' Federal Reserve Bank of St. Louis (2016)(with Daniel Alpert) Recursive Collective Actions Problems: the Structure of Procyclicality in Financial
Robert_C._Hockett
Application of cybernetics to itself
Second-order cybernetics, also known as the cybernetics of cybernetics, is the recursive application of cybernetics to itself and the reflexive practice of cybernetics
Second-order_cybernetics
Decision support tool
A decision tree is a decision support recursive partitioning structure that uses a tree-like model of decisions and their possible consequences, including
Decision_tree
Concept in economics
In economics, the isoelastic function for utility, also known as the isoelastic utility function, or power utility function, is used to express utility
Isoelastic_utility
Type of software
research such as transcription analysis, coding and text interpretation, recursive abstraction, content analysis, discourse analysis, grounded theory methodology
Computer-assisted qualitative data analysis software
Computer-assisted_qualitative_data_analysis_software
Mathematical tool used in macroeconomics
looking. Hence, it should not be used when estimating DSGE models based on recursive state-space representations (e.g., likelihood-based methods that make
Hodrick–Prescott_filter
Norwegian–Swedish statistician, economist (1908–1992)
elaborated on his "recursive causal chain" model, which was more appropriate for many applications, according to Wold: For such "recursive causal chain" models
Herman_Wold
Concept in probability theory and statistics
\setminus \{Z_{0}\}}^{2}}}}}} Naïvely implementing this computation as a recursive algorithm yields an exponential time complexity. However, this computation
Partial_correlation
Experiment conducted outside the laboratory
2139/ssrn.3033144. S2CID 197733986. Athey, Susan; Imbens, Guido (2016). "Recursive partitioning for heterogeneous causal effects: Table 1". Proceedings of
Field_experiment
Subfield of artificial intelligence
as a source of ideas, inspiration, and metaphor, DAI uses sociology, economics, and management science for inspiration. Where the focus of artificial
Distributed artificial intelligence
Distributed_artificial_intelligence
American economist and Nobel Laureate (1940–2022)
2022) was an American economist. He received the Nobel Memorial Prize in Economics in 2004, sharing the award with Finn E. Kydland, "for their contributions
Edward_C._Prescott
Method for constructing a fixed-income yield curve
of spot returns is recovered from the bond yields by solving for them recursively, by forward substitution: this iterative process is called the bootstrap
Bootstrapping_(finance)
Process of forming order by local interactions
monitoring of performance of the survival processes (1), their management by recursive application of regulation (2), homeostatic operational control (3) and
Self-organization
Subfield of computer science and mathematics
finite number of English words". Rogers, Hartley Jr. (1967). Theory of Recursive Functions and Effective Computability. McGraw-Hill. Page 2. Well defined
Theoretical_computer_science
American economist
Cagan and Friedman be the optimal forecast of y*. Muth's approach to find recursive optimal linear forecast of a "hidden" state vector, x, given an "observer"
John_Muth
Theory in microeconomics
The Handbook of Labor Economics. Vol. 2. Amsterdam: North-Holland. ISBN 978-0-444-87857-1. Lucas, R.; Stokey, N. (1989). Recursive Methods in Economic Dynamics
Search_theory
Hungarian and American mathematician and physicist (1903–1957)
algorithm, in which the first and second halves of an array are each sorted recursively and then merged. As part of von Neumann's hydrogen bomb work, he and
John_von_Neumann
Economic Model
Markets". Recursive Macroeconomic Theory (2nd ed.). MIT Press. ISBN 978-0-262-12274-0. Lengwiler, Yvan. Microfoundations of financial economics: an introduction
Arrow–Debreu_model
Organization maintaining the Domain Name System and Internet exchange points
including the country-code domains of more than 130 countries, and the Quad9 recursive resolver; Operating the only FIPS 140-2 Level 4 global TLD DNSSEC key
Packet_Clearing_House
Movement that emerged from and reacts to postmodernism
etc.) into a single coherent framework based on the idea of "meta" as "recursive reflection". For Dempsey, what all forms of metamodernism have in common
Metamodernism
Amount in information economics
for which F<E to determine when to pay the consultant. In the case of a recursive decision tree, we often have an additional cost m that results from correcting
Value_of_information
American/Australian economist (born 1961)
areas. He is best known for work on the following topics: Keane's work on recursive importance sampling (the "GHK" algorithm), contained in his thesis (1990)
Michael_Keane_(economist)
Sequence of data points over time
Estimation of TVAR models typically involves methods such as kernel smoothing, recursive least squares, or Kalman filtering. Non-linear dependence of the level
Time_series
Statistical term, a compound measure in statistics
officially endorsed by the OECD high level statistical committee, describe ten recursive steps for developing an index: Step 1: Theoretical framework Step 2: Data
Index_(statistics)
Study of mathematical models in finance
The Journal of Philosophical Economics. pp. 99–120. Lehmann-Waffenschmidt, Marco; Sandri, Serena (2007). Recursivity and Self-Referentiality of Economic
Epistemology_of_finance
Country in West Asia
from Tel Aviv: What Has Fueled Israel's Startup Ecosystem's Growth". TheRecursive.com. Retrieved 22 October 2023. "Israel: Start-up nation comes of age"
Israel
scientists from a variety of fields (mathematics, psychology, engineering, economics and political science) explored several research directions that would
History of artificial intelligence
History_of_artificial_intelligence
Measure in graph theory
random jump assumption. The PageRank of a node v {\displaystyle v} has recursive dependence on the PageRank of other nodes that point to it. The normalized
Eigenvector_centrality
Subfield of mathematics
uniqueness of the set of natural numbers (up to isomorphism) and the recursive definitions of addition and multiplication from the successor function
Mathematical_logic
Study of abstract machines and automata
Prentice-Hall. Hartmanis, J.; Stearns, R. E. (1964). "Computational complexity of recursive sequences" (PDF). Fortnow, Lance; Homer, Steve (2002). "A Short History
Automata_theory
T-1\}:\rho _{t+1}(X)=\rho _{t+1}(Y)\Rightarrow \rho _{t}(X)=\rho _{t}(Y)} Recursive For all t ∈ { 0 , 1 , . . . , T − 1 } : ρ t ( X ) = ρ t ( − ρ t + 1 (
Time_consistency_(finance)
Early decentralized business based on the Ethereum blockchain
resolved. An Ethereum developer on GitHub pointed out a flaw relating to "recursive calls". On June 9 it was blogged about by Peter Vessenes, founder of the
The_DAO
Mathematical model of the time dependence of a point in space
diagram for a Circle map. Black regions correspond to Arnold tongues. The recursive application of a Complex quadratic polynomial as a complex plane map gives
Dynamical_system
Field of mathematics and science based on non-linear systems and initial conditions
initial conditions property, such as combinatorial chaos (I.e. applying recursively a discrete combinatorial action). This is also comparable and similar
Chaos_theory
Study of uncertainty in the output of a mathematical model or system
doi:10.1016/j.ress.2007.04.002. Ratto, M.; Pagano, A. (2010). "Using recursive algorithms for the efficient identification of smoothing spline ANOVA
Sensitivity_analysis
German sociologist (1927–1998)
elements. Social systems are defined by Luhmann not as action but as recursive communication. Modern society is defined as a world system consisting
Niklas_Luhmann
Concept in probability theory
dependent on time but rather on data over time. For related approaches, see Recursive Bayesian estimation and Data assimilation. Suppose a rental car service
Conjugate_prior
Israeli computer scientist
dubbed Serialization of Proof-of-work Events: Confirming Transactions via Recursive Elections (SPECTRE). Through this research effort, it was presented as
Yonatan_Sompolinsky
Metric of academic journals
diamScore – a measure of scientific influence of academic journals based on recursive citation weighting and the pairwise comparisons between journals. Source
Journal_ranking
Open source autonomous AI agent
AutoGPT can be constrained by the cost associated with running it as its recursive nature requires it to continually call the OpenAI API on which it is built
AutoGPT
American mathematician (born 1930)
known for his research in topology, dynamical systems and mathematical economics. He was awarded the Fields Medal in 1966 and spent more than three decades
Stephen_Smale
Publishing digital resources with their source files
Lerner, Josh; Tirole, Jean (2002). "Some simple economics on open source". Journal of Industrial Economics. 50 (2): 197–234. CiteSeerX 10.1.1.461.3373. doi:10
Open_source
Psychologist
211–245). MIT Press. ISBN 978-0262513111 Ainslie, G. (2011) "'Free will' as recursive self-prediction: Does a deterministic mechanism reduce responsibility
George_Ainslie_(psychologist)
Study of circular causal processes
Kolmogorov); and "a branch of mathematics dealing with problems of control, recursiveness, and information, focuses on forms and the patterns that connect" (Gregory
Cybernetics
Set of objects whose state must satisfy limits
involves other technologies such as linear programming. Backtracking is a recursive algorithm. It maintains a partial assignment of the variables. Initially
Constraint satisfaction problem
Constraint_satisfaction_problem
Mathematical construct in game theory
Second-order beliefs are beliefs about others’ first-order beliefs, and this recursive structure continues indefinitely, forming a hierarchy of beliefs. Jean-François
Hierarchy_of_beliefs
San Francisco-based venture capital firm
Raises €43M Led by Founders Fund to Scale Next-Gen Modular Satellites". TheRecursive.com. "General Matter plans US nuclear fuel revival". NEI Magazine. December
Founders_Fund
Hypothesis in linguistics
extraction, conjoinability, gapping, inbound anaphoric islands and phrasal recursivity. The examples below parallel those outlined by Bresnan & Mchombo (1995)
Lexical_integrity_hypothesis
Unpredictable phenomenon in complex systems
sustain growth, but growth becomes the source of further innovations in a recursive, self-expanding spiral. In this sense, the exponential trend of the growth
Emergence
Subset of artificial intelligence
Credit-card fraud detection Data quality DNA sequence classification Economics Financial data analysis General game playing Handwriting recognition Healthcare
Machine_learning
Economist
journal pages weighted by the recursive impact factor. Vinod has published more than 200 research papers and books on economics including: Vinod, Hrishikesh
Hrishikesh_Vinod
Decade of the Gregorian calendar (1990–1999)
seemed fashionably left-wing. In 1996 the Postmodernism Generator used a recursive transition network to imitate the postmodernist style of humanities writing
1990s
System of elements that are subordinated to each other
Recursion itself is included as a subset of hierarchical programming, and recursive thinking can be synonymous with a form of hierarchical thinking and logic
Hierarchy
Time series model
Conrad and Engle (2025), and it features stationary returns and allows for recursive long-term volatility forecasts. They exploit the fact that daily standardized
Autoregressive conditional heteroskedasticity
Autoregressive_conditional_heteroskedasticity
2017 science fiction novel by Nick Harkaway
romances about detective Philip Marlowe, John le Carré's intricately recursive Tinker, Tailor, Soldier, Spy, the dizzying science fiction of Philip K
Gnomon_(novel)
Optimization algorithm for artificial neural networks
can be computed by δ l − 1 {\displaystyle \delta ^{l-1}} and repeated recursively. This avoids inefficiency in two ways. First, it avoids duplication because
Backpropagation
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