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

Authors:
Sonja Novkovic
Affiliations:
Department of Economics, Saint Mary‘s University, Halifax, N.S., Canada B3H 3C3. E-mail: novkovic@shark.stmarys.ca
Venue:
Computational Economics
Year:
1998

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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 presentedas a population of artificial adaptive agents. The paper examines the comparative performancesof three alternative forms of genetic algorithm – the simple GA, PGA with election and EGAwith elite selection. The latter version proved to be more robust than the alternatives.