We present the basic mechanisms of Genetic Algorithms and some significant applications of these algorithms in economics. The article also provides a representative reference list on this topic.

We study the properties of the well known Replicator Dynamics when applied to a finitely repeated version of the Prisoners' Dilemma game. We characterize the behavior of such dynamics under strongly simplifying assumptions (i.e. only 3 strategies are available) and show that the basin of...