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A Genetic Algorithm Simulation of a Transition Economy: An Application to Insider-Privatization in Croatia

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  • Novkovic, Sonja

Abstract

A genetic algorithm simulation is applied to a model of privatization in a transition economy. Bounded-rational agents, learning by doing in a changing economic environment, are presented as a population of artificial adaptive agents. The paper examines the comparative performances of three alternative forms of genetic algorithm--the simple GA, PGA with election and EGA with elite selection. The latter version proved to be more robust than the alternatives. Citation Copyright 1998 by Kluwer Academic Publishers.

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  • Novkovic, Sonja, 1998. "A Genetic Algorithm Simulation of a Transition Economy: An Application to Insider-Privatization in Croatia," Computational Economics, Springer;Society for Computational Economics, vol. 11(3), pages 221-243, June.
    • Handle: RePEc:kap:compec:v:11:y:1998:i:3:p:221-43
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    Cited by:

    1. Noe, Thomas H. & Rebello, Michael & Wang, Jun, 2012. "Learning to bid: The design of auctions under uncertainty and adaptation," Games and Economic Behavior, Elsevier, vol. 74(2), pages 620-636.

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