This article questions the rather pessimistic conclusions of Allen et Carroll (2001) about the ability of consumer to learn the optimal buffer-stock based consumption rule. To this aim, we develop an agent based model where alternative learning schemes can be compared in terms of the consumption...

This chapter presents the methods and contributions of evolutionary approach to economic dynamics. First, we expose why economic dynamics can indeed be considered as evolutionary. Second, we discuss sources of diversity and selection mechanisms that drive these dynamics, in the context of...

We present the basic mechanisms of Genetic Algorithms and some significant applications of these algorithms in economics. The article also provides a representative reference list on this topic.

This contribution focuses on the simulation of the emergence and evolution of communities of practice, a concept brought forwards originally in sociology in the early 90’s by Lave and Wenger (1990) and Brown and Duguid (1991). In a first part, the main theoretical principles on which relies...

This article aims to test the relevance of learning through Genetic Algorithms (GA) and Learning Classifier Systems (LCS), in opposition with fixed R&D rules, in a simplified version of the evolutionary industry model of Nelson and Winter. These three R&D strategies are compared from the points...

Convergence to Nash equilibrium in Cournot oligopoly is a problem that recurrently arises as a subject of study in economics. The development of evolutionary game theory has provided an equilibrium concept more directly connected with adjustment dynamics and the evolutionary stability of the...