Does cognitive capacity matter when learning using genetic programming in double auction markets?

Chen, Shu-Heng, Tai, Chung-Ching and Wang, Shu G. (2010) Does cognitive capacity matter when learning using genetic programming in double auction markets? Tosto, Di and Parunak, H. Dyke (eds.) In Multi-Agent-Based Simulation X: International Workshop, MABS 2009, Budapest, Hungary, May10-15, 2009. Revised Selected Papers. vol. 5683, Springer. pp. 37-48 . (doi:10.1007/978-3-642-13553-8_4).

Record type: Conference or Workshop Item (Paper)

Abstract

The relationship between human subjects’ cognitive capacity and their economic performances has been noticed in recent years due to the evidence found in a series of cognitive economic experiments. However, there are few agent-based models aiming to characterize such relationship. This paper attempts to bridge this gap and serve as an agent-based model with a focus on agents’ cognitive capacity. To capture the heterogeneity of human cognitive capacity, this paper employs genetic programming as the algorithm of the learning agents, and then uses population size as a proxy parameter of individual cognitive capacity. By modeling agents in this way, we demonstrate a nearly positive relationship between cognitive abilities and economic performance.

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