This paper explores the idea of using artificial adaptive agents in economic theory. In particular, we use Genetic Algorithms (GAs) to model the learning behavior of a population of adaptive and boundedly rational agents interacting in an economic system. We analyze the behavior of a GA in two...

his book deals with the learning behavior of boundedly rational agents in economic systems. In particular, the modeling of learning populations by genetic algorithms is studied in detail. After an extensive review and discussion of the existing literature in the first part, a mathematical...