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Neural Networks in Economics: A Selective Review

Author

Listed:
  • Xiaohong Chen

    (Yale University)

  • Luis Hoderlein

    (Yale University)

  • Jonas Lieber

    (Imperial College London)

Abstract

The "deep learning revolution" has led to remarkable success of neural networks in applications across a wide range of fields, such as computer vision, speech recognition, natural language processing, code generation, protein structure prediction, image and video generation, and dynamic control. This review introduces neural networks to economists. Recent advances and challenges in approximation theory, neural network architecture, computation, econometric theory and practice are presented. Finally, we survey the rapidly evolving applications of modern neural networks and Large Language Models in economic research.

Suggested Citation

  • Xiaohong Chen & Luis Hoderlein & Jonas Lieber, 2026. "Neural Networks in Economics: A Selective Review," Cowles Foundation Discussion Papers 2539, Cowles Foundation for Research in Economics, Yale University.
    • Handle: RePEc:cwl:cwldpp:2539
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    File URL: https://cowles.yale.edu/sites/default/files/2026-07/d2539.pdf
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