The Convergence of Evolutionary Expectations in a Dynamic IS-LM Model
Gabriel Bobeică · Revista OEconomica · 2015
This research presents a dynamic IS-LM model with evolutionary expectations. Agents in the model are presumed to be heterogeneous, their expectations consisting in a population of chromosomes subjected to a genetic algorithm process replicating imitation and perpetuation of success strategies, exchange of information and experimentation. Simulations were conducted based on this model.