2008,06 : Evolutionary modelling in economics : a survey of methods and building blocks

Safarzynska, Karolina; Bergh, Jeroen C. J. M. van den GND

In this paper we present an overview of methods and components of formal economic models employing evolutionary approaches. This compromises two levels: (1) techniques of evolutionary modelling, including multi-agent modelling, evolutionary algorithms and evolutionary game theory; (2) building blocks or components of formal models classified into core processes and features of evolutionary systems - diversity, innovation and selection - and additional elements, such as bounded rationality, diffusion, path dependency and lock-in, co-evolutionary dynamics, multilevel and group selection, and evolutionary growth. We focus our attention on the characteristics of models and techniques and their underlying assumptions. -- bounded rationality ; evolutionary algorithms ; evolutionary game theory ; evolutionary growth ; innovation ; multilevel evolution ; neo-Schumpeterian models.

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Safarzynska, Karolina / Bergh, Jeroen C. J. M. van den: 2008,06. Evolutionary modelling in economics : a survey of methods and building blocks. 2010.

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