Induction: Processes of Inference, Learning, and Discovery
Induction: Processes of Inference, Learning, and Discovery
Computational Economics - Special issue: Evolutionary processes in economics
Evaluating Market Attractiveness: Individual Incentives Versus Industry Profitability
Computational Economics
Robust Evolutionary Algorithm Design for Socio-economic Simulation
Computational Economics
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This article aims to test the relevance of learning throughgenetic algorithms, in contrast to fixed R&D rules, in a simplifiedversion of the evolutionary industry model of Nelson and Winter.These two R&D strategies arecompared from the points of view of industry performance(welfare) and firms' relative performance (competitive edge):simulations results clearly show that learning is a source oftechnological and social efficiency as well as a means formarket domination.