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題名 Modeling the Expectations of Inflation in the OLG Model with Genetic Programming
作者 陳樹衡;葉佳炫
Chen,Shu-Heng;Yeh,Chia-Hsuan
貢獻者 政大經濟系
關鍵詞 Genetic programming;overlapping generations models;bounded rationality;agent-based computational economics;Pareto-superior equilibrium
日期 1999-09
上傳時間 9-Jan-2009 12:19:44 (UTC+8)
摘要 In this paper, genetic programming (GP) is employed to model learning and adaptation in the overlapping generations model, one of the most popular dynamic economic models. Using a model of inflation with multiple equilibria as an illustrative example, we show that our GP-based agents are able to coordinate their actions to achieve the Pareto-superior equilibrium (the low-inflation steady state) rather than the Pareto inferior equilibrium (the high-inflation steady
     state). We also test the robustness of this result with different initial conditions, economic parameters, GP control parameters, and the selection mechanism. We find that as long
     as the survival-of-the-fittest principle is maintained, the evolutionary operators are only secondarily important. However, once the survival-of-the-fittest principle is absent, the well-coordinated economy is also gone and the inflation rate can jump quite wildly. To some extent, these results shed light on the biological foundations of economics.
關聯 Soft Computing,3(2),53-62
資料類型 article
DOI http://dx.doi.org/10.1007/s005000050053
dc.contributor 政大經濟系-
dc.creator (作者) 陳樹衡;葉佳炫zh_TW
dc.creator (作者) Chen,Shu-Heng;Yeh,Chia-Hsuan-
dc.date (日期) 1999-09en_US
dc.date.accessioned 9-Jan-2009 12:19:44 (UTC+8)-
dc.date.available 9-Jan-2009 12:19:44 (UTC+8)-
dc.date.issued (上傳時間) 9-Jan-2009 12:19:44 (UTC+8)-
dc.identifier.uri (URI) https://nccur.lib.nccu.edu.tw/handle/140.119/23302-
dc.description.abstract (摘要) In this paper, genetic programming (GP) is employed to model learning and adaptation in the overlapping generations model, one of the most popular dynamic economic models. Using a model of inflation with multiple equilibria as an illustrative example, we show that our GP-based agents are able to coordinate their actions to achieve the Pareto-superior equilibrium (the low-inflation steady state) rather than the Pareto inferior equilibrium (the high-inflation steady
     state). We also test the robustness of this result with different initial conditions, economic parameters, GP control parameters, and the selection mechanism. We find that as long
     as the survival-of-the-fittest principle is maintained, the evolutionary operators are only secondarily important. However, once the survival-of-the-fittest principle is absent, the well-coordinated economy is also gone and the inflation rate can jump quite wildly. To some extent, these results shed light on the biological foundations of economics.		-
dc.format application/en_US
dc.language enen_US
dc.language en-USen_US
dc.language.iso en_US-
dc.relation (關聯) Soft Computing,3(2),53-62en_US
dc.subject (關鍵詞) Genetic programming;overlapping generations models;bounded rationality;agent-based computational economics;Pareto-superior equilibrium-
dc.title (題名) Modeling the Expectations of Inflation in the OLG Model with Genetic Programmingen_US
dc.type (資料類型) articleen
dc.identifier.doi (DOI) 10.1007/s005000050053en_US
dc.doi.uri (DOI) http://dx.doi.org/10.1007/s005000050053en_US