9. An expert system models human problem solving by automating the rules that people use to complete
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9. An expert system models human problem solving by automating the rules that people use to complete a task. In some financial applications, expert systems perform better than other systems that are based on finding a theoretical optimal solution. Use the beauty contest game to discuss when this might happen. Can you think of any financial applications where an expert systems approach would be more successful than an optimal theoretical approach? Can you think of any financial applications where an optimal theoretical approach would be more successful than an expert systems approach?
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