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DOI: 10.1051/ejess:2001105
European Journal of Economic and Social Systems 15 N°3 (2001) 203-220
Connecting adaptive behaviour and expectations in models of innovation: The Potential Role of Artificial Neural Networks
Murat YildizogluIFREDE-E3I, Université Montesquieu Bordeaux IV, Avenue Leon Duguit, F-33608 Pessac, France. yildi@montesquieu.u-bordeaux.fr
Abstract
In this methodological work I explore the possibility of explicitly modelling
expectations conditioning the R&D decisions of firms. In order to isolate
this problem from the controversies of cognitive science, I propose a
black box strategy through the concept of "internal model". The
last part of the article uses artificial neural networks to model the
expectations of firms in a model of industry dynamics based on Nelson &
Winter (1982).
Key words: Neural networks, genetic algorithms, bounded rationality, learning, expectations, innovation dynamics.
© EDP Sciences 2001