We examine the Cournot oligopoly model in the context of social and individual learning. In both models of learning, firms update their decisions about how much to produce via variants of the genetic algorithm updating procedure. Arifovic (1994) found that both models of social and individual...

We study a general equilibrium system where agents have heterogeneous beliefs concerning realizations of possible outcomes. The actual outcomes feed back into beliefs thus creating a complicated nonlinear system. Beliefs are updated via a genetic algorithm learning process which we interpret as...