EconPapers    
Economics at your fingertips  
 

Evolutionary Modelling in Economics: A Survey of Methods and Building Blocks

Karolina Safarzynska and Jeroen van den Bergh

Papers on Economics and Evolution from Philipps University Marburg, Department of Geography

Abstract: 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.

Keywords: bounded rationality; evolutionary algorithms; evolutionary game theory; evolutionary growth; innovation; multilevel evolution; neo-Schumpeterian models Length 51 pages (search for similar items in EconPapers)
JEL-codes: B52 C60 C73 (search for similar items in EconPapers)
Date: 2008-06
New Economics Papers: this item is included in nep-cbe, nep-cmp, nep-evo and nep-hpe
References: Add references at CitEc
Citations: View citations in EconPapers (5)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:esi:evopap:2008-06

Access Statistics for this paper

More papers in Papers on Economics and Evolution from Philipps University Marburg, Department of Geography Deutschhausstrasse 10, 35032 Marburg. Contact information at EDIRC.
Bibliographic data for series maintained by Christoph Mengs (mengs@students.uni-marburg.de this e-mail address is bad, please contact repec@repec.org).

 
Page updated 2024-11-11
Handle: RePEc:esi:evopap:2008-06