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A Bias-Variance-Complexity Trade-Off Framework for Complex System Modeling

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Book cover Computational Science and Its Applications - ICCSA 2006 (ICCSA 2006)

Part of the book series: Lecture Notes in Computer Science ((LNTCS,volume 3980))

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Abstract

This study proposes a new complex system modeling approach by extending a bias-variance trade-off into a bias-variance-complexity trade-off framework. In the framework, the computational complexity is introduced for system modeling. For testing purposes, complex financial system data are used for modeling. Empirical results obtained reveal that this novel approach performs well in complex system modeling and can improve the performance of complex systems by way of model ensemble within the framework.

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Author information

Authors and Affiliations

  1. Institute of Systems Science, Academy of Mathematics and Systems Science, Chinese Academy of Sciences, Beijing, 100080, China

    Lean Yu & Shouyang Wang

  2. Department of Management Sciences, City University of Hong Kong, Tat Chee Avenue, Kowloon, Hong Kong

    Lean Yu & Kin Keung Lai

  3. College of Business Administration, Hunan University, Changsha, 410082, China

    Kin Keung Lai & Shouyang Wang

  4. School of Management, Huazhong University of Science and Technology, 1037 Luoyu Road, Wuhan, 430074, China

    Wei Huang

Authors
  1. Lean Yu
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  2. Kin Keung Lai
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  3. Shouyang Wang
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  4. Wei Huang
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Editor information

Editors and Affiliations

  1. Department of Computer Science, University of Calgary, 2500 University Drive N.W., T2N 1N4, Calgary, AB, Canada

    Marina Gavrilova

  2. Department of Mathematics and Computer Science, University of Perugia, via Vanvitelli, 1, I-06123, Perugia, Italy

    Osvaldo Gervasi

  3. William Norris Professor, Head of the Computer Science and Engineering Department, University of Minnesota, USA

    Vipin Kumar

  4. OptimaNumerics Ltd., Cathedral House, 23-31 Waring Street, BT1 2DX, Belfast, UK

    C. J. Kenneth Tan

  5. Clayton School of IT, Monash University, 3800, Clayton, Australia

    David Taniar

  6. Department of Chemistry, University of Perugia, Via Elce di Sotto, 8, I-06123, Perugia, Italy

    Antonio Laganá

  7. School of Computing, Soongsil University, Seoul, Korea

    Youngsong Mun

  8. School of Information and Communication Engineering, Sungkyunkwan University, Korea

    Hyunseung Choo

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© 2006 Springer-Verlag Berlin Heidelberg

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Cite this paper

Yu, L., Lai, K.K., Wang, S., Huang, W. (2006). A Bias-Variance-Complexity Trade-Off Framework for Complex System Modeling. In: Gavrilova, M., et al. Computational Science and Its Applications - ICCSA 2006. ICCSA 2006. Lecture Notes in Computer Science, vol 3980. Springer, Berlin, Heidelberg. https://doi.org/10.1007/11751540_55

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  • DOI: https://doi.org/10.1007/11751540_55

  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-540-34070-6

  • Online ISBN: 978-3-540-34071-3

  • eBook Packages: Computer ScienceComputer Science (R0)

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