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From Teleology to Evolution Bridging the gap between rationality and adaptation in social explanation

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  • Siegfried Berninghaus
  • Werner Güth
  • Hartmut Kliemt

Abstract

This paper focuses on the uneasy alliance of rational choice and evolutionary explanations in modern economics. While direct evolutionary explanations of "optimality" rule out "purposeful" rational choice by assuming zero-intelligence and pure rational choice explanations leave no room for "selective" adaptation the indirect evolutionary approach integrates both perspectives. Subsequently we go stepwise "from teleology to evolution" and thereby study the model spectrum ranging from pure rational choice over indirect to direct evolutionary approaches. We believe that knowledge of this spectrum can help to choose more adequate models of economic behavior that incorporate both teleological and evolutionary elements

Suggested Citation

  • Siegfried Berninghaus & Werner Güth & Hartmut Kliemt, "undated". "From Teleology to Evolution Bridging the gap between rationality and adaptation in social explanation," Papers on Strategic Interaction 2002-24, Max Planck Institute of Economics, Strategic Interaction Group.
    • Handle: RePEc:esi:discus:2002-24
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    File URL: ftp://papers.econ.mpg.de/esi/discussionpapers/2002-24.pdf
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    References listed on IDEAS

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    1. Frank, Robert H, 1987. "If Homo Economicus Could Choose His Own Utility Function, Would He Want One with a Conscience?," American Economic Review, American Economic Association, vol. 77(4), pages 593-604, September.
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    Cited by:

    1. Friedel Bolle & Jessica Kaehler, 2006. "Coleman's Hypothesis on trusting behaviour and a remark on meta-studies," Journal of Economic Methodology, Taylor & Francis Journals, vol. 13(4), pages 469-483.
    2. Christian Korth, 2009. "Reciprocity—An Indirect Evolutionary Analysis," Lecture Notes in Economics and Mathematical Systems, in: Fairness in Bargaining and Markets, chapter 0, pages 35-55, Springer.
    3. Siegfried K. Berninghaus & Werner Güth, 2009. "Buying Versus Hiring—An Indirect Evolutionary Approach," Metroeconomica, Wiley Blackwell, vol. 60(4), pages 619-637, November.
    4. Dimitry Rtischev, 2011. "Evolution of vulnerability to pain in interpersonal relations as a strategic trait aiding cooperation," Journal of Evolutionary Economics, Springer, vol. 21(5), pages 757-782, December.
    5. Kuechle, Graciela, 2011. "Persistence and heterogeneity in entrepreneurship: An evolutionary game theoretic analysis," Journal of Business Venturing, Elsevier, vol. 26(4), pages 458-471, July.
    6. Werner Güth & Manfred Stadler, 2007. "Path dependence without denying deliberation— a continuous transition model connecting teleology and evolution," Journal of Evolutionary Economics, Springer, vol. 17(1), pages 45-52, February.

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