Analytical Results and Applications to Economical Models
First Statement of Responsibility
by Herbert Dawid.
.PUBLICATION, DISTRIBUTION, ETC
Place of Publication, Distribution, etc.
Berlin, Heidelberg
Name of Publisher, Distributor, etc.
Springer Berlin Heidelberg, Berlin, Heidelberg Springer Berlin Heidelberg Imprint : Springer
Date of Publication, Distribution, etc.
1996. 1996.
PHYSICAL DESCRIPTION
Specific Material Designation and Extent of Item
(IX, 170 pages)
SERIES
Series Title
Lecture notes in economics and mathematical systems, 441.
CONTENTS NOTE
Text of Note
1. Introduction --; 2. Bounded Rationality and Artificial Intelligence --; 2.1 Bounded Rationality in Economics --; 2.2 Artificially Intelligent Agents in Economic Systems --; 2.3 Learning Techniques of Artificially Intelligent Agents --; 2.4 Some Applications of CI Methods in Economic Systems --; 2.5 Potentiality and Problems of CI Techniques in Economics --; 3. Genetic Algorithms --; 3.1 What are Genetic Algorithms? --; 3.2 The Structure of Genetic Algorithms --; 3.3 Genetic Operators --; 3.4 Genetic Algorithms with a Non-Standard Structure --; 3.5 Economic Interpretation of Genetic Learning --; 3.6 Some Analytical Approaches to Model Genetic Algorithms --; 4 Genetic Algorithms with a State Dependent Fitness Function --; 4.1 State Dependency in Economic Systems --; 4.2 A Markov Model for Systems with a State Dependent Fitness Function --; 4.3 The Difference Equations Describing the GA --; 4.4 Deviation from the Markov Process --; 4.5 A Numerical Example --; 4.6 Stability of the Uniform States --; 4.7 Two-Population Models --; 5 Genetic Learning in Evolutionary Games --; 5.1 Equilibria and Evolutionary Stability --; 5.2 Learning in Evolutionary Games --; 5.3 Learning by a Simple Genetic Algorithm --; 5.4 Two-Population Contests --; 6 Simulations with Genetic Algorithms in Economic Systems --; 6.1 A Model of a Competitive Market --; 6.2 An Overlapping Generations Model with Fiat Money --; 7 Stability and Encoding --; 7.1 The Cobweb Example Revisited --; 7.2 Impact of a Change in Encoding and Scaling --; 7.3 A Method for Finding Economic Equilibria --; 8 Conclusions --; A. Basic Definitions and Results Used --; A.1 Time Homogeneous Markov Chains --; A.2 Nonlinear Difference Equations and Stability --; B. Calculation of the Equilibria of the Evolutionary Games in Chapter 5 --; B.1 Rock-Scissor-Paper Games --; B.2 The GA Deceptive Game GAD --; B.3 The Games G1 and G2 --; References --; List of Figures --; List of Tables.
SUMMARY OR ABSTRACT
Text of Note
I started to deal with genetic algorithms in 1993 when I was working on a project on learning and rational behavior in economic systems. Initially I carried out simulations in an overlapping generations model but soon got dissatisfied with the complete lack of theoretical foundation for the observed behavior. Thus, I started to work on a mathematical representation of the behavior of a simple genetic algorithm in the special setup of an interacting population of economic agents and step by step arrived at the results collected here. However, I believe that much more can and has to be done in this field. I would like to thank Gustav Feichtinger who not only supervised my doctoral thesis but always supported and encouraged me throughout the last few years. Special thanks are also due to K. Hornik, A. Mehlmann and M. Kopel who contributed largely to the work. During the preparation of the monograph I also benefited from helpful comments of A. Geyer-Schulz, G. Rote, G. Tragler and A. Rahman. Special thanks to W.A. Muller from Springer-Verlag for his support. Financial support from the Austrian Science Foundation under contract number P9112-S0Z is gratefully acknowledged.