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Published in:
Introduction to Man and Machines Read chapter Read first chapter

2017 | OriginalPaper | Chapter

14. Causality

Authors : Tshilidzi Marwala, Evan Hurwitz

Published in: Artificial Intelligence and Economic Theory: Skynet in the Market

Publisher: Springer International Publishing

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Abstract

Causality is a powerful concept which is at the heart of markets. Often, one wants to establish whether a particular attribute causes another. As human beings, we have perceived causality through correlation. Because of this fact, causality has often been confused for correlation. This chapter studies the evolution of causality including the influential work of David Hume and its relevance to economics and finance. It studies various concepts and models of causality such as transmission, Granger and Pearl models of causality. The transmission model of causality states that for causality to exist, there should be a flow of information from the cause to the effect. Simple example of the study on the link between circumcision and risk of HIV are used in this chapter.

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Metadata
Title
Causality
Authors
Tshilidzi Marwala
Evan Hurwitz
Copyright Year
2017
Book
Artificial Intelligence and Economic Theory: Skynet in the Market

Print ISBN: 978-3-319-66103-2

Electronic ISBN: 978-3-319-66104-9

Copyright Year: 2017

DOI
https://doi.org/10.1007/978-3-319-66104-9_14

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