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weird/crazy idea: using individual transaction data from various sources (credit cards, cash deposits, etc), would it be possible to build up a macro view from
by asah 7y ago
weird/crazy idea: using individual transaction data from various sources (credit cards, cash deposits, etc), would it be possible to build up a macro view from 100s of millions of people?
Start small (not the US), in a geo where electronic payments dominate, and where privacy isn't as important. If the model proves valuable, build modeling tools and scale up.
Counterpoint: there's a very large percentage (by value) of transactions that are invisible e.g. business partnerships, cryptocurrency, etc.
- chaosbutters 7y agoagent based modeling where the probability of the agents' actions is dependent on actual economic data... more realistic sim city (city skylines)
- SiempreViernes 7y agohttps://en.wikipedia.org/wiki/Agent-based_computational_economics https://en.wikipedia.org/wiki/Agent-based_computational_econ... I don't know that they've managed to produce the sort of general results that older economic theory.