Adaptive Learning by Genetic Algorithms: Analytical Results and Applications to Economical Models (Lecture Notes in Economics and Mathematical Systems)

This book considers the learning behavior of Genetic Algorithms in economic systems with mutual interaction, like markets. Such systems are characterized by a state dependent fitness function and for the first time mathematical results characterizing the long run outcome of genetic learning in such systems are provided. Several insights concerning the impact of the use of different genetic operators, coding mechanisms and parameter constellations are gained. The usefulness of the derived results is illustrated by a large number of simulations in evolutionary games and economic models.