By Herbert Dawid
This ebook considers the training habit of Genetic Algorithms in monetary platforms with mutual interplay, like markets. Such structures are characterised by means of a country established health functionality and for the 1st time mathematical effects characterizing the longer term final result of genetic studying in such platforms are supplied. numerous insights about the effect of using various genetic operators, coding mechanisms and parameter constellations are received. The usefulness of the derived effects is illustrated through loads of simulations in evolutionary video games and fiscal versions.
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Additional info for Adaptive Learning by Genetic Algorithms: Analytical Results and Applications to Economical Models
There are only two possible actions for the firms: setting a high cartel price p or a low competitive price p. There are two kinds of consumers in the model. One type always buys from the firm with the lower of the two prices, whereas the second type buys from the firm nearest to him, regardless of the price. Each period every second firm reestimates its price decision. Thus adjacent firms set their prices every other period. The decision rule of the firms are all the same and very simple. They consider only the set prices of their two direct neighbors and set a high price whenever both adjacent firms sell at the same price and at the low price if the adjacent firms sell at different prices.
Rongly and was dearly beaten by Kaplan's strategy in the end. Although there is, of course, some probability that another network architecture than the one used by Rust, Palmer and Miller could lead to better results, we have to accept that in this setup the computational intelligence techniques were not able to gain the results earned by human decision makers. 1 See Andreoni and Miller  for a detailed description of these different types of auctions. 2 The Iterated Prisoner's Dilemma One of the most widely used model to illustrate the evolution of cooperation in socio economic systems is the simple and highly stylized evolutionary game, called prisoner's dilemma.
Marimon, McGrattan and Sargent represented each household by a classifier system and were able to watch their convergence to an equilibrium in a model with three different types of households. They were even able to find an equilibrium in a model with five different types of households. This equilibrium was not known before and is a good example to show that techniqlles from computational intelligence may not only be used 34 2. Bounded Rationality and Artificial Intelligence to simulate the behavior of adaptive agents, but are also well suited to compute equilibria in very complex systems where the analytical computation of equilibria may be cumbersome.
Adaptive Learning by Genetic Algorithms: Analytical Results and Applications to Economical Models by Herbert Dawid