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In this paper, we will give a review on the development of artificial adaptive economic agents in evolutionary economics. The review starts from a 1986 paper by Robert Lucas, a Nobel Prize laureate in economics. From there, we shall see how the idea of economic adaptive agents was enriched and...
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From a computation-theoretic standpoint, this paper formalizes the notion of unpredictability in the efficient market hypothesis (EMH) by a biological-based search program, i.e., genetic programming (GP). This formalization differs from the traditional notion based on probabilistic independence...
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The ability of accurate epidemic prediction facilitates early preparation for the disease and minimizes losses due to any strikes. We devised a platform on the Web for users to exchange their information/opinions on the possible avian flu outbreaks in Taiwan. The likelihood of the first human...
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Blume and Easly [1992] show that if agents have the same savings rule, an expected discounted logarithmic utility maximizer with correct beliefs will dominate. If no agent adopts this rule, then agents with incorrect beliefs, but equally averse to risk as logarithmic utility maximizers, may...
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