• 1 Introduction
  • 1.1 Motivation and background
  • 1.2 Applications and real-world implications
  • 1.3 Structure of chapter
  • 1.4 Dynamics and evolution
  • 1.5 Horse races and the Kelly rule
  • 2 Evolutionary models of nancial markets
  • 2.1 Components of the models
  • 2.2 Discussion of the assumptions
  • 2.3 Outline of the dynamics
  • 3 An evolutionary model with short-lived assets
  • 3.1 The model
  • 3.2 Analysis of local dynamics
  • 3.3 An example
  • 3.4 The generalized Kelly rule
  • 3.5 Global dynamics with adaptive strategies
  • 4 An evolutionary stock market model
  • 4.1 Local dynamics
  • 4.2 Global dynamics with constant strategies
  • 4.3 Kelly rule in general equilibrium
  • 5 Applications
  • 5.1 Simulation studies
  • 5.2 Dynamics of strategies: genetic programming
  • 5.3 Empirical tests of evolutionary asset pricing
  • 6 Continuous-time evolutionary nance
  • 7 Conclusion
  • References