Adaptive Economic Models. Proceedings of a Symposium by Richard H. Day, Theodore Groves

By Richard H. Day, Theodore Groves

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Extra info for Adaptive Economic Models. Proceedings of a Symposium Conducted by the Mathematics Research Center, the University of Wisconsin–Madison, October 21–23, 1974

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Renborg. 1 "The first heroic step is to divide actuality into two parts - one repre- senting the partial process in point; the other, its environment (so to speak) separated by a boundary consisting of an arlthmomorphic void, " Gedrgescu-Roegen [ 1970, p. 2] . 2 Technical and financial feasibility have always been central in neo- classical microeconomic theory, but in a static context. e. , gen- erate random outputs. The stochastic case is not developed in this paper though the models presented can be elaborated from this point of view, when they are, none of the conclusions are modified in substance.

1959], Theory of Value, New York: John Wiley and Sons, I nc. Dobzhansky, T. ), Oxford: Clarendon Press. Fel'dbaum, A. A. [1965], Optimal Control Systems, New York: Academic Press. Forrester, J. W. [1961], Industrial Dynamics, Cambridge: MIT Press. [1974], "Understanding Social and Economic Change in the United States, " Address delivered at the Summer Computer Simulation Conference, Houston, Texas, July 10. Gexrgescu-Roegen, N. [1970], "The Economics of Production" (Richard T. Ely Lecture), American Economic Review, 60:1-9.

Therefore, to the extent that an organism's fitness is passed on to its progeny, the population to which it belongs will tend to become enriched in fit organisms. Given a biological individual, its structures and behaviors arise from an interplay between its genome and the environmental circumstances of its development. The correlation of fitness with production of offspring means that, at the genetic level, a fit organism contributes more of its genes to the "gene pool" of the population to which it belongs than one which is less fit.

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