In this paper, we will give a review on the development of artificial adaptive economic agents in evolutionary economics. The review starts from a 1986 paper by Robert Lucas, a Nobel Prize laureate in economics. From there, we shall see how the idea of economic adaptive agents was enriched and...

Central banks continue to publish simple sum measures of the money stock and draw policy inferences from their behaviour even though it has been demonstrated conclusively that such data violate basic principles of economic and index number theory. (See, for example, Belongia (1996)). Simple sum...