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After all agents have made a quantity production decision, the quantities are aggregated and plugged into a demand function to get a price. Each firm's profit is then calculated. Fitness values are then calculated as a function of profits. After the offspring pool is generated, hypothetical fitness values are calculated. These hypothetical values are based on some sort of estimation of the price level, often just by taking the previous price level.
==See also==
*{{slink|List of genetic algorithm applications #Finance and Economics}}
== References ==
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* J Arifovic, 'Learning by Genetic Algorithm in Economic Environments', PhD Thesis, University of Chicago, 1991.
* J Arifovic, 'Genetic Algorithm Learning and the Cobweb Model ', Journal of Economic Dynamics and Control, vol. 18, Issue 1, (January 1994), 3–28.
* R Hoffmann, 'The independent localisations of interaction and learning in the repeated
* R Hoffmann, 'The ecology of cooperation', Theory and Decision, vol. 50, Issue 2. p.
==External links==
* [https://www.sfu.ca/crabe/ Centre for Adaptive Behaviour in Economics]
* [
[[Category:Computational economics]]
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