A solvable model of the evolutionary loop
  A model for the evolution of a finite population in a rugged fitness landscape is introduced and solved. The population is trapped in an evolutionary loop, alternating periods of stasis to periods in which it performs adaptive walks. The dependence of the average rarity of the population (a quantity related to the fitness of the most adapted individual) and of the duration of stases on population size and mutation rate is calculated. 
Luca Peliti