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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\r\nstate). 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\r\nas 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://ah.lib.nccu.edu.tw/item?item_id=24269-
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\r\nstate). 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\r\nas 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