Generalized Darwinian evolutionary theory has emerged as central to the description of economic process (e.g., Aldrich et al., J Evol Econ 18:577–596, <CitationRef CitationID="CR3">2008</CitationRef>). Just as Darwinian principles provide necessary, but not sufficient, conditions for understanding the dynamics of social entities, so too...</citationref>

The paper is concerned with genetic algorithm learning in a cobweb economy. Besides discussing several specification details in the genetic operators, the model includes four different types of firm forecasting rules and subjects the demand side to serially correlated random shocks. The main...