Genetic algorithms in economics: Difference between revisions

Revision as of 00:33, 28 August 2007

Revision as of 19:21, 22 December 2007

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After all agent's 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 also==

*[[Genetic Algorithm]]

*[[cobweb model]]

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* J Arifovic, 'Genetic Algorithm Learning and the Cobweb Model ', Journal of Economic Dynamics and Control, vol. 18, Issue 1, (January 1994), 3-28.

== External Links links==

* [http://www.sfu.ca/crabe/ Centre for Adaptive Behaviour in Economics]

* [http://www.econ.iastate.edu/tesfatsi/getalife.htm Agent-Based Computational Economics and Artificial Life: A Brief Intro]