Genetic Programming Learning and the Cobweb Model

Created by W.Langdon from gp-bibliography.bib Revision:1.4340

  author =       "Shu-Heng Chen and Chia-Hsuan Yeh",
  title =        "Genetic Programming Learning and the Cobweb Model",
  booktitle =    "Advances in Genetic Programming 2",
  publisher =    "MIT Press",
  year =         "1996",
  editor =       "Peter J. Angeline and K. E. {Kinnear, Jr.}",
  pages =        "443--466",
  chapter =      "22",
  address =      "Cambridge, MA, USA",
  keywords =     "genetic algorithms, genetic programming",
  ISBN =         "0-262-01158-1",
  URL =          "",
  URL =          "",
  abstract =     "Using genetic programming to model the cobweb model as
                 a multiagent system, this chapter generalises the work
                 done by Arifovic (1994), which is based on genetic
                 algorithms. We find that the rational expectations
                 equilibrium price which can be discovered by genetic
                 algorithms can also be discovered by genetic
                 programming. Furthermore, genetic programming requires
                 much less prior knowledge than genetic algorithms. The
                 reasonable upper limit of the price and the
                 characteristic of the equilibrium which is assumed as
                 the prior knowledge in genetic algorithms can all be
                 discovered by genetic programming. In addition,
                 GP-based markets have a self-stabilising force which is
                 capable of bringing any deviations caused by mutation
                 back to the rational expectations equilibrium price.
                 All of these features show that genetic programming can
                 be a very useful tool for economists to model learning
                 and adaptation in multiagent systems. In particular,
                 with respect to the understanding of the dynamics of
                 the market process, it provides us with a visible
                 foundation for the 'invisible hand'.",
  size =         "18 pages",

Genetic Programming entries for Shu-Heng Chen Chia Hsuan Yeh