An introduction to genetic algorithms
An introduction to genetic algorithms
Adaptation in Natural and Artificial Systems: An Introductory Analysis with Applications to Biology, Control and Artificial Intelligence
Genetic Algorithms in Search, Optimization and Machine Learning
Genetic Algorithms in Search, Optimization and Machine Learning
Adaptive Learning by Genetic Algorithms: Analytical Results and Applications to Economic Models
Adaptive Learning by Genetic Algorithms: Analytical Results and Applications to Economic Models
Validating Simulation Models: A General Framework and Four Applied Examples
Computational Economics
A markov chain framework for the simple genetic algorithm
Evolutionary Computation
International Journal of Artificial Intelligence and Soft Computing
Paradox Lost: The Evolution of Strategies in Selten's Chain Store Game
Computational Economics
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This paper studies advertising, price ceilings and taxes in a sequential search model with bilateral heterogeneities in production and search costs. We simulate equilibria using a genetic algorithm (GA) applied to over 100 market scenarios, each differing based on the number of firms, number of consumers, existence of price ceilings or taxes, costs of production, costs of advertising, consumers' susceptibility to advertising and consumers' search costs. We study the interaction of advertising and search and analyze the welfare effects of advertising, price ceilings and sales taxes. Despite advertising being uninformative, we find that firms charging lower prices tend to advertise more intensely and that price ceilings and advertising can improve welfare if search costs are high.