Armen Alchian's article 'Uncertainty, evolution and economic theory' is widely acknowledged as a classic contribution … natural selection produce profit-maximising firms, and this in turn has been widely labelled 'The Alchian-Friedman Argument …' or 'The Alchian thesis' in the economic literature. In fact, 'The Alchian thesis' - that natural selection produces …

According to the “Generalized Darwinism” movement (GD), the three principles of variation, selection and retention …

This paper studies aggregate dynamics in a cobweb model where learning takes place through a selection mecanism, by … in a way that favors the most profitable firm types. Selection may be inadequate because firms are being selected on the … basis of incorrect market signals. Selection itself may reinforce such mispricing, thus generating instability. I compare …

This paper studies aggregate dynamics in a cobweb model where learning takes place through a selection mechanism, by … in a way that favors the most profitable firm types. Selection may be inadequate because firms are being selected on the … basis of incorrect market signals. Selection itself may reinforce such mispricing, thus generating instability. I compare …