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Economics and evolutionary mismatch: humans in novel settings do not maximize

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  • Terence C. Burnham

    (Chapman University)

Abstract

Standard economic theory does not consider the deep evolutionary history of humans. As such, economics ignores the notion that human nature can be ‘out of sync’ with certain aspects of modern life. In contrast, the theory of ‘evolutionary mismatch’ argues that novel products and situations might present particular difficulties. The assumptions of economics are discussed and examined from an evolutionary perspective including both equilibrium and mismatch. The conclusion is that economics would be changed by evolutionary thinking in general, and evolutionary mismatch in particular.

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  • Terence C. Burnham, 2016. "Economics and evolutionary mismatch: humans in novel settings do not maximize," Journal of Bioeconomics, Springer, vol. 18(3), pages 195-209, October.
    • Handle: RePEc:kap:jbioec:v:18:y:2016:i:3:d:10.1007_s10818-016-9233-8
    DOI: 10.1007/s10818-016-9233-8
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    Citations

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    Cited by:

    1. Maria Pia Paganelli, 2018. "Adam Smith on the future of experimental evolution and economics," Journal of Bioeconomics, Springer, vol. 20(1), pages 23-28, April.
    2. Richard E. Lenski & Terence C. Burnham, 2018. "Experimental evolution of bacteria across 60,000 generations, and what it might mean for economics and human decision-making," Journal of Bioeconomics, Springer, vol. 20(1), pages 107-124, April.
    3. Terence C. Burnham & Jay Phelan, 2023. "Ordinaries 13: apparent spite & apparent altruism," Journal of Bioeconomics, Springer, vol. 25(3), pages 147-180, December.
    4. Terence C. Burnham & Jay Phelan, 2021. "Ordinaries," Journal of Bioeconomics, Springer, vol. 23(3), pages 225-236, October.
    5. Terence C. Burnham & Jay Phelan, 2021. "Ordinaries," Journal of Bioeconomics, Springer, vol. 23(1), pages 1-14, April.
    6. Terence C. Burnham & Jay Phelan, 2019. "Ordinaries," Journal of Bioeconomics, Springer, vol. 21(3), pages 145-155, October.
    7. Braganza, Oliver, 2022. "Market paternalism: Do people really want to be nudged towards consumption?," ifso working paper series 23, University of Duisburg-Essen, Institute for Socioeconomics (ifso).
    8. Terence C. Burnham & John P. Phelan, 2018. "Fair is foul, and foul is fair: experimental evolutionary studies of mismatch," Journal of Bioeconomics, Springer, vol. 20(1), pages 153-157, April.
    9. Terence C. Burnham & Jay Phelan, 2022. "Ordinaries 8," Journal of Bioeconomics, Springer, vol. 24(1), pages 1-35, April.
    10. Terence C. Burnham & Jay Phelan, 2020. "Ordinaries," Journal of Bioeconomics, Springer, vol. 22(3), pages 137-154, October.
    11. Terence C. Burnham & Jay Phelan, 2022. "Ordinaries 10," Journal of Bioeconomics, Springer, vol. 24(3), pages 181-202, October.
    12. Terence C. Burnham & Jay Phelan, 2021. "Ordinaries," Journal of Bioeconomics, Springer, vol. 23(2), pages 125-149, July.
    13. Terence C. Burnham & Jay Phelan, 2020. "Ordinaries," Journal of Bioeconomics, Springer, vol. 22(1), pages 1-14, April.
    14. Terence C. Burnham & Jay Phelan, 2023. "Ordinaries 12," Journal of Bioeconomics, Springer, vol. 25(2), pages 75-98, August.
    15. Terence C. Burnham & Jay Phelan, 2023. "Ordinaries 14: Biological economics," Journal of Bioeconomics, Springer, vol. 25(3), pages 181-201, December.
    16. Terence C. Burnham & Jay Phelan, 2023. "Biological welfare economics: a natural science critique of normative economics," Journal of Bioeconomics, Springer, vol. 25(1), pages 1-33, April.
    17. Terence C. Burnham & Jay Phelan, 2022. "Ordinaries 9: How to write a biological economics article," Journal of Bioeconomics, Springer, vol. 24(2), pages 117-131, July.

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