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These processes ultimately result in the offspring pool of strings that is different from the initial parent pool. The election operator then works by comparing the fitness of the parent strings to the potential fitness of the offspring pool. If the offspring string has a higher fitness value, it will replace the parent string in the population. Otherwise, the parent string will stay. Generally the average fitness will have increased by this procedure for the population, since only the best strings are selected.
The cobweb model is a simple supply and demand model for a good over t periods. Firms make a production quantity decision in a given period, however their output is not produced until the following period. Thus, the firms are going to have to use some sort of method to forecast what the future price will be. The GA is used as a sort of learning behaviour for the firms. Initially their quantity production decisions are random, however each period they learn a little more. The result is the agents converge within the area of the [[rational expectations]] equilibrium (RATEX) for the stable and unstable case. If the election operator is used, the GA converges exactly to the RATEX equilibrium.
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