This paper shows, how a genetic algorithm (GA) can be used to model an economic process: the interaction of profit-maximizing oil-exploration firms that compete with each other for a limited amount of oil.

This paper focuses on the theoretical underpinnings and practical application of an economic impact analysis submodeldeveloped within the Land use Evolution and Impact Assessment Modeling (LEAM) environment. The conceptual framework of LEAM is described, followed by an application of the model...