Published online by Cambridge University Press: 28 October 2021
Chapter 6 discusses the topic of artificial evolution. First, it introduces the concept of extrinsic adaptation and illustrates it through simple examples of genetic algorithms. It then introduces the concept of intrinsic adaptation and illustrates it through examples of evolution in artificial markets. Finally, introduces some basic concepts of the science of evolution related to genetic dynamic and natural selection, and presents and discusses the scope and limitations of the uses of evolutionary theory concepts and method in economics.