Evolution and sub-optimal behaviour
AbstractThe apparently sub-optimal behaviour of economic agents in games against nature can be seen as a natural outcome of evolutionary processes. This paper extends previous work on the evolutionary stability of sub-optimal adaptations by examining how stability is affected by the introduction of multiple traits and assortative mating. It is shown that increasing the number of traits tends to increase the scope for stable second best adaptations whilst assortative mating reduces it. Various economic applications are discussed.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Springer in its journal Journal of Evolutionary Economics.
Volume (Year): 9 (1999)
Issue (Month): 2 ()
Contact details of provider:
Web page: http://link.springer.de/link/service/journals/00191/index.htm
Find related papers by JEL classification:
- D00 - Microeconomics - - General - - - General
- D89 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Other
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Naci Canpolat & Hüseyin Ozel, 2008. "Evolutionary Dynamics of Globalization," Working Papers 2008/16, Turkish Economic Association.
- Juan Urrutia Elejalde, 2012. "Anarchism, postmodernism and realism under confirmatory bias," SERIEs, Spanish Economic Association, vol. 3(1), pages 273-290, March.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn) or (Christopher F Baum).
If references are entirely missing, you can add them using this form.