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Economic Models of Innovations: Why GP Can Be a Possible Way Out?

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Authors

Shu-Heng Chen and Bin-Tzong Chie

DOI:


Abstract:

No matter how commonly the term innovation has been used in economics, a concrete analytical or computational model of innovation is not yet available. This paper argues that a breakthrough can be made with genetic programming, and proposes a functional-modularity approach to an agent-based computational economic model of innovation.