John Holland's Legacy in Economics: Artificial Adaptive Economic Agents --From 1986 to the Present in Retrospect
In this paper, we will give a review on the development of artificial adaptive economic agents in evolutionary economics. The review starts from a 1986 paper by Robert Lucas, a Nobel Prize laureate in economics. From there, we shall see how the idea of economic adaptive agents was enriched and implemented by Holland's two books, Holland (1975) on genetic algorithms and Holland (1986) on classifier systems. We will then examine the impact of Holland's artificial adaptive agents on two different groups of economists. One was led by Thomas Sargent representing New Classical Economics, and the other by Brian Arthur standing for Santa Fe Institute Economics. A moot point brought here is that the spirit of the GA (John Holland's legacy) is lost in mainstream economics, but is reserved in SFI economics. We then shift to Koza's genetic programming and show how John Holland's legacy was further expanded in evolutionary economics.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
|Date of creation:||01 Apr 2001|
|Contact details of provider:|| Web page: http://www.econometricsociety.org/conference/SCE2001/SCE2001.html|
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:sce:scecf1:158. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christopher F. Baum)
If references are entirely missing, you can add them using this form.