This book deals with the learning behavior of boundedly rational agents in economic systems. In particular, the modeling of learning populations by genetic algorithms is studied in detail. After an extensive review and discussion of the existing literature in the first part, a mathematical...

This book considers the learning behavior of Genetic Algorithms in economic systems with mutual interaction, like markets. Such systems are characterized by a state dependent fitness function and for the first time mathematical results characterizing the long run outcome of genetic learning in...