A finite population model analysis of co-evolution with "Matching Pennies"

Markov models of the evolution of finite populations are used to study the theoretical limit behavior of genetic algorithms. In this paper, we use combinations of these Markov models to study the exact expected performance of co-evolutionary genetic algorithms engaged in the competitive Matching Pennies game. We show how changes in the rate of mutation, population size and selection pressure influence the performance of competing genetic algorithms.