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Evolutionary Algorithms in Management Applications (Paperback, Softcover reprint of the original 1st ed. 1995)
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Evolutionary Algorithms in Management Applications (Paperback, Softcover reprint of the original 1st ed. 1995)
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Evolutionary Algorithms (EA) are powerful search and optimisation
techniques inspired by the mechanisms of natural evolution. They
imitate, on an abstract level, biological principles such as a
population based approach, the inheritance of information, the
variation of information via crossover/mutation, and the selection
of individuals based on fitness. The most well-known class of EA
are Genetic Algorithms (GA), which have received much attention not
only in the scientific community lately. Other variants of EA, in
particular Genetic Programming, Evolution Strategies, and
Evolutionary Programming are less popular, though very powerful
too. Traditionally, most practical applications of EA have appeared
in the technical sector. Management problems, for a long time, have
been a rather neglected field of EA-research. This is surprising,
since the great potential of evolutionary approaches for the
business and economics domain was recognised in pioneering
publications quite a while ago. John Holland, for instance, in his
seminal book Adaptation in Natural and Artificial Systems (The
University of Michigan Press, 1975) identified economics as one of
the prime targets for a theory of adaptation, as formalised in his
reproductive plans (later called Genetic Algorithms).
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