1. Evolution, Irrationality and Perfectly Competitive Equilibrium.- 2. Evolution, Irrationality and Monopolistically Competitive Equilibrium.- 3. Evolution and Informationally Efficient Equilibrium in a Commodity Futures Market.- 4. Natural Selection, Random Shocks and Market Efficiency in a Futures Market.- 5. Evolution, Noise Traders and Market Efficiency in a One-Sided Auction Market.- 6. The Evolution of Money as a Medium of Exchange in a Primitive Economy.- 7. Conclusion.
First comprehensive text on equilibrium outcomes through economic natural selection in irrational markets Covers several new evolutionary models of future markets, commodities, and one-sided auctions First book to survey equilibrium outcomes at an aggregate level