Abstract
We discuss the connection between causal adaptive economic behavior and entropy maximization and suggest estimation and inference methods consistent with information recovery in dynamic economic systems. In particular we emphasize the connection between adaptive intelligent behavior, causal entropy maximization and self-organized equilibrium seeking behavior in an open dynamic economic system. This entropy based causal adaptive behavior framework permits the use of information theoretic estimation and inference methods, and has potential for turning Economics from a descriptive science to a predictive or at least a comprehensive behavior related quantitative one.
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