Genetic algorithms in economics: Difference between revisions

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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==
*[[List of genetic algorithm applications #Finance and Economics]]
 
== References ==