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Comprehensive Review of Deep Reinforcement Learning Methods and Applications in Economics

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  • Mosavi, Amir
  • Faghan, Yaser
  • Ghamisi, Pedram
  • Duan, Puhong
  • Ardabili, Sina Faizollahzadeh
  • Hassan, Salwana
  • Band, Shahab S.

Abstract

The popularity of deep reinforcement learning (DRL) applications in economics has increased exponentially. DRL, through a wide range of capabilities from reinforcement learning (RL) to deep learning (DL), offers vast opportunities for handling sophisticated dynamic economics systems. DRL is characterized by scalability with the potential to be applied to high-dimensional problems in conjunction with noisy and nonlinear patterns of economic data. In this paper, we initially consider a brief review of DL, RL, and deep RL methods in diverse applications in economics, providing an in-depth insight into the state-of-the-art. Furthermore, the architecture of DRL applied to economic applications is investigated in order to highlight the complexity, robustness, accuracy, performance, computational tasks, risk constraints, and profitability. The survey results indicate that DRL can provide better performance and higher efficiency as compared to the traditional algorithms while facing real economic problems in the presence of risk parameters and the ever-increasing uncertainties.

Suggested Citation

  • Mosavi, Amir & Faghan, Yaser & Ghamisi, Pedram & Duan, Puhong & Ardabili, Sina Faizollahzadeh & Hassan, Salwana & Band, Shahab S., 2020. "Comprehensive Review of Deep Reinforcement Learning Methods and Applications in Economics," OSF Preprints jrc58, Center for Open Science.
    • Handle: RePEc:osf:osfxxx:jrc58
    DOI: 10.31219/osf.io/jrc58
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