CAN EVOLUTIONARY ALGORITHMS DESCRIBE LEARNING-PROCESSES

Evolutionary algorithms have attracted more and more the attention of economists in recent years. Repeatedly it is claimed that they are an adequate tool to describe learning processes within a population of in dividuals. The present paper examines this claim. To this end, a learn ing model is set up that contains the three elements of variation, eli mination, and imitation that are claimed to correspond with the proces ses of mutation, selection, and replication of biological evolution. S ubsequently, this model is compared with a formulation of evolutionary algorithms. The comparison reveals that although both processes have a similar structure there are crucial differences between the two dyna mics.