Rationality, Competition and Evolution in Economics: Reflections on Some Recent Works by Economists and Game Theorists

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Publisher :
ISBN 13 :
Total Pages : 8 pages
Book Rating : 4.:/5 (878 download)

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Book Synopsis Rationality, Competition and Evolution in Economics: Reflections on Some Recent Works by Economists and Game Theorists by : Giacomo Costa

Download or read book Rationality, Competition and Evolution in Economics: Reflections on Some Recent Works by Economists and Game Theorists written by Giacomo Costa and published by . This book was released on 1999 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Rational Animal

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Publisher : Basic Books
ISBN 13 : 0465040977
Total Pages : 290 pages
Book Rating : 4.4/5 (65 download)

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Book Synopsis The Rational Animal by : Douglas T Kenrick

Download or read book The Rational Animal written by Douglas T Kenrick and published by Basic Books. This book was released on 2013-09-10 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do three out of four professional football players go bankrupt? How can illiterate jungle dwellers pass a test that tricks Harvard philosophers? And why do billionaires work so hard -- only to give their hard-earned money away? When it comes to making decisions, the classic view is that humans are eminently rational. But growing evidence suggests instead that our choices are often irrational, biased, and occasionally even moronic. Which view is right -- or is there another possibility? In this animated tour of the inner workings of the mind, psychologist Douglas T. Kenrick and business professor Vladas Griskevicius challenge the prevailing views of decision making, and present a new alternative grounded in evolutionary science. By connecting our modern behaviors to their ancestral roots, they reveal that underneath our seemingly foolish tendencies is an exceptionally wise system of decision making. From investing money to choosing a job, from buying a car to choosing a romantic partner, our choices are driven by deep-seated evolutionary goals. Because each of us has multiple evolutionary goals, though, new research reveals something radical -- there's more than one "you" making decisions. Although it feels as if there is just one single "self" inside your head, your mind actually contains several different subselves, each one steering you in a different direction when it takes its turn at the controls. The Rational Animal will transform the way you think about decision making. And along the way, you'll discover the intimate connections between ovulating strippers, Wall Street financiers, testosterone-crazed skateboarders, Steve Jobs, Elvis Presley, and you.

Evolution and Rationality

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Publisher : Cambridge University Press
ISBN 13 : 1139510517
Total Pages : 293 pages
Book Rating : 4.1/5 (395 download)

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Book Synopsis Evolution and Rationality by : Samir Okasha

Download or read book Evolution and Rationality written by Samir Okasha and published by Cambridge University Press. This book was released on 2012-06-21 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume explores from multiple perspectives the subtle and interesting relationship between the theory of rational choice and Darwinian evolution. In rational choice theory, agents are assumed to make choices that maximize their utility; in evolution, natural selection 'chooses' between phenotypes according to the criterion of fitness maximization. So there is a parallel between utility in rational choice theory and fitness in Darwinian theory. This conceptual link between fitness and utility is mirrored by the interesting parallels between formal models of evolution and rational choice. The essays in this volume, by leading philosophers, economists, biologists and psychologists, explore the connection between evolution and rational choice in a number of different contexts, including choice under uncertainty, strategic decision making and pro-social behaviour. They will be of interest to students and researchers in philosophy of science, evolutionary biology, economics and psychology.

The Rational Animal

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Publisher : Basic Books (AZ)
ISBN 13 : 0465032427
Total Pages : 290 pages
Book Rating : 4.4/5 (65 download)

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Book Synopsis The Rational Animal by : Douglas T. Kenrick

Download or read book The Rational Animal written by Douglas T. Kenrick and published by Basic Books (AZ). This book was released on 2013-09-10 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do three out of four professional football players go bankrupt? How can illiterate jungle dwellers pass a test that tricks Harvard philosophers? And why do billionaires work so hard—only to give their hard-earned money away? When it comes to making decisions, the classic view is that humans are eminently rational. But growing evidence suggests instead that our choices are often irrational, biased, and occasionally even moronic. Which view is right—or is there another possibility? In this animated tour of the inner workings of the mind, psychologist Douglas T. Kenrick and business professor Vladas Griskevicius challenge the prevailing views of decision making, and present a new alternative grounded in evolutionary science. By connecting our modern behaviors to their ancestral roots, they reveal that underneath our seemingly foolish tendencies is an exceptionally wise system of decision making. From investing money to choosing a job, from buying a car to choosing a romantic partner, our choices are driven by deep-seated evolutionary goals. Because each of us has multiple evolutionary goals, though, new research reveals something radical—there’s more than one “you” making decisions. Although it feels as if there is just one single “self” inside your head, your mind actually contains several different subselves, each one steering you in a different direction when it takes its turn at the controls. The Rational Animal will transform the way you think about decision making. And along the way, you’ll discover the intimate connections between ovulating strippers, Wall Street financiers, testosterone-crazed skateboarders, Steve Jobs, Elvis Presley, and you.

Rationality, Competition and Evolution

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Publisher :
ISBN 13 : 9789052910284
Total Pages : 394 pages
Book Rating : 4.9/5 (12 download)

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Book Synopsis Rationality, Competition and Evolution by : Adriaan Witteloostuijn

Download or read book Rationality, Competition and Evolution written by Adriaan Witteloostuijn and published by . This book was released on 1990 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Evolutionary Epistemology, Rationality, and the Sociology of Knowledge

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Publisher : Open Court Publishing
ISBN 13 : 9780812690392
Total Pages : 500 pages
Book Rating : 4.6/5 (93 download)

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Book Synopsis Evolutionary Epistemology, Rationality, and the Sociology of Knowledge by : Karl Raimund Popper

Download or read book Evolutionary Epistemology, Rationality, and the Sociology of Knowledge written by Karl Raimund Popper and published by Open Court Publishing. This book was released on 1987 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Bartley and Radnitzky have done the philosophy of knowledge a tremendous service. Scholars now have a superb and up-to-date presentation of the fundamental ideas of evolutionary epistemology." --Philosophical Books

The Varieties of Economic Rationality

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Publisher : Routledge
ISBN 13 : 1317817494
Total Pages : 188 pages
Book Rating : 4.3/5 (178 download)

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Book Synopsis The Varieties of Economic Rationality by : Michel Zouboulakis

Download or read book The Varieties of Economic Rationality written by Michel Zouboulakis and published by Routledge. This book was released on 2014-01-21 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concept of economic rationality is important for the historical evolution of Economics as a scientific discipline. The common idea about this concept -even between economists- is that it has a unique meaning which is universally accepted. This new volume argues that "economic rationality" is not not a universal concept with one single meaning, and that it in fact has different, if not conflicting, interpretations in the evolution of discourse on economics. In order to achieve this, the book traces the historical evolution of the concept of economic rationality from Adam Smith to the present, taking in thinkers from Mill to Friedman, and encompassing approaches from neoclassical to behavioural economics. The book charts this history in order to reveal important instances of conceptual transformation of the meaning of economic rationality. In doing so, it presents a uniquely detailed study of the historical change of the many faces of the homo oeconomicus .

Why Think?

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Publisher : Oxford University Press
ISBN 13 : 0198040938
Total Pages : 198 pages
Book Rating : 4.1/5 (98 download)

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Book Synopsis Why Think? by : Ronald de Sousa

Download or read book Why Think? written by Ronald de Sousa and published by Oxford University Press. This book was released on 2007-06-25 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a world where natural selection has shaped adaptations of astonishing ingenuity, what is the scope and unique power of rational thinking? In this short but wide-ranging book, philosopher Ronald de Sousa looks at the twin set of issues surrounding the power of natural selection to mimic rational design, and rational thinking as itself a product of natural selection. While we commonly deem ourselves superior to other species, the logic of natural selection should not lead us to expect that nature does everything for the best. Similarly, rational action does not always promote the best possible outcomes. So what is the difference? Is the pursuit of rationality actually an effective strategy? Part of the answer lies in language, including mathematics and science. Language is the most striking device by which we have made ourselves smarter than our nearest primate cousins. Sometimes the purely instinctual responses we share with other animals put explicit reasoning to shame: the movements of a trained athlete are faster and more accurate than anything she could explicitly calculate. Language, however, with its power to abstract from concrete experience and to range over all aspects of nature, enables breathtakingly precise calculations, which have taken us to the moon and beyond. Most importantly, however, language enables us to formulate an endless multiplicity of values, in potential conflict with one another as well as with instinctual imperatives. In short, this sophisticated and entertaining book shows how our rationality and our irrationality are inextricably intertwined. Ranging over a wide array of evidence, it explores the true ramifications of being human in the natural world.

Evolutionary Rationality, 'Homo Economicus', and the Foundations of Social Order

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Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Evolutionary Rationality, 'Homo Economicus', and the Foundations of Social Order by : Carsten Herrmann-Pillath

Download or read book Evolutionary Rationality, 'Homo Economicus', and the Foundations of Social Order written by Carsten Herrmann-Pillath and published by . This book was released on 2007 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article elaborates on an alternate general approach to rationality, starting with the Hayekian concept of mind as a complex system of genetically, culturally, and individually created and transmitted rules. quot;Evolutionary Rationalityquot; is an individualistic alternative to quot;Homo Economicusquot; and the conventional concept of utility maximization under constraints. Its main elements are examined by means of an analysis paradoxes in the theory of games, as well as anomalies in the conventional approach that have been uncovered by experimental economics. This yields an approach to rationality in which individuals are quot;power maximizers,quot; able to synthesize both rational and irrational behaviors in their standard meanings. quot;Evolutionary rationalityquot; is thus an unity of reason and emotion - a unity which can be restated in evolutionary terms as recognizing the negative adaptive consequences of quot;Homo economicusquot; in our species' social context. Such unity of reason and emotion also prevails in cultural evolution. quot;Social affectivityquot; is linked to particular patterns of competition for power and the production of public goods within specific societies. Different consequences for the general analysis of social order are sketched, with special attention to the role of groups in the making of society.

The Roots of Reason

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Publisher : OUP Oxford
ISBN 13 : 0191516082
Total Pages : 252 pages
Book Rating : 4.1/5 (915 download)

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Book Synopsis The Roots of Reason by : David Papineau

Download or read book The Roots of Reason written by David Papineau and published by OUP Oxford. This book was released on 2006-01-26 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: David Papineau presents a controversial view of human reason, portraying it as a normal part of the natural world, and drawing on the empirical sciences to illuminate its workings. In these six interconnected essays he offers a fresh approach to some long-standing problems. Papineau rejects the contemporary orthodoxy that genuine thought hinges on some species of non-natural normativity. He explores the evolutionary histories of theoretical and practical rationality, indicating ways in which capacities underlying human reasoning have been selected for their biological advantages. He then looks at the connection between decision and probability, explaining how good decisions need to be informed by causal as well as probabilistic facts. Finally he defends the radical view that a satisfactory understanding of decision-making is only possible within a specific interpretation of quantum mechanics. By placing the subject in its scientific context, Papineau shows how human rationality plays an explicable role in the functioning of the natural world.

Bounded Rationality and Economic Evolution

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Publisher : Edward Elgar Publishing
ISBN 13 :
Total Pages : 360 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Bounded Rationality and Economic Evolution by : Clement Allan Tisdell

Download or read book Bounded Rationality and Economic Evolution written by Clement Allan Tisdell and published by Edward Elgar Publishing. This book was released on 1996 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: Combining recent developments in learning and game theory, transaction costs and evolutionary economics, this work provides an integrated overview of implications for economic decision making and management of bounded rationality and its evolutionary consequences.

Toward Rational Exuberance

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Publisher : Macmillan
ISBN 13 : 0374281777
Total Pages : 358 pages
Book Rating : 4.3/5 (742 download)

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Book Synopsis Toward Rational Exuberance by : B. Mark Smith

Download or read book Toward Rational Exuberance written by B. Mark Smith and published by Macmillan. This book was released on 2001 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traces the evolution of popular theories of stock market behavior, showing how they have become widely accepted over time and clarifying some of those them.

Adaptive Thinking

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Publisher : Oxford University Press
ISBN 13 : 9780195153729
Total Pages : 370 pages
Book Rating : 4.1/5 (537 download)

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Book Synopsis Adaptive Thinking by : Gerd Gigerenzer

Download or read book Adaptive Thinking written by Gerd Gigerenzer and published by Oxford University Press. This book was released on 2002-03-07 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: Where do new ideas come from? What is social intelligence? Why do social scientists perform mindless statistical rituals? This vital book is about rethinking rationality as adaptive thinking: to understand how minds cope with their environments, both ecological and social.Gerd Gigerenzer proposes and illustrates a bold new research program that investigates the psychology of rationality, introducing the concepts of ecological, bounded, and social rationality. His path-breaking collection takes research on thinking, social intelligence, creativity, and decision-making out of an ethereal world where the laws of logic and probability reign, and places it into our real world of human behavior and interaction. Adaptive Thinking is accessibly written for general readers with an interest in psychology, cognitive science, economics, sociology, philosophy, artificial intelligence, and animal behavior. It also teaches a practical audience, such as physicians, AIDS counselors, and experts in criminal law, how to understand and communicate uncertainties and risks.

The Evolution of Cooperation

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Publisher : Basic Books
ISBN 13 : 0786734884
Total Pages : 258 pages
Book Rating : 4.7/5 (867 download)

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Book Synopsis The Evolution of Cooperation by : Robert Axelrod

Download or read book The Evolution of Cooperation written by Robert Axelrod and published by Basic Books. This book was released on 2009-04-29 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: A famed political scientist's classic argument for a more cooperative world We assume that, in a world ruled by natural selection, selfishness pays. So why cooperate? In The Evolution of Cooperation, political scientist Robert Axelrod seeks to answer this question. In 1980, he organized the famed Computer Prisoners Dilemma Tournament, which sought to find the optimal strategy for survival in a particular game. Over and over, the simplest strategy, a cooperative program called Tit for Tat, shut out the competition. In other words, cooperation, not unfettered competition, turns out to be our best chance for survival. A vital book for leaders and decision makers, The Evolution of Cooperation reveals how cooperative principles help us think better about everything from military strategy, to political elections, to family dynamics.

An Evolutionary Theory of Economic Change

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Publisher : Harvard University Press
ISBN 13 : 0674256565
Total Pages : 420 pages
Book Rating : 4.6/5 (742 download)

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Book Synopsis An Evolutionary Theory of Economic Change by : Richard R. Nelson

Download or read book An Evolutionary Theory of Economic Change written by Richard R. Nelson and published by Harvard University Press. This book was released on 1985-10-15 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Richard R. Nelson and Sidney G. Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms. To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry.

Evolutionary Games and Population Dynamics

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Publisher : Cambridge University Press
ISBN 13 : 9780521625708
Total Pages : 356 pages
Book Rating : 4.6/5 (257 download)

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Book Synopsis Evolutionary Games and Population Dynamics by : Josef Hofbauer

Download or read book Evolutionary Games and Population Dynamics written by Josef Hofbauer and published by Cambridge University Press. This book was released on 1998-05-28 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: Every form of behaviour is shaped by trial and error. Such stepwise adaptation can occur through individual learning or through natural selection, the basis of evolution. Since the work of Maynard Smith and others, it has been realised how game theory can model this process. Evolutionary game theory replaces the static solutions of classical game theory by a dynamical approach centred not on the concept of rational players but on the population dynamics of behavioural programmes. In this book the authors investigate the nonlinear dynamics of the self-regulation of social and economic behaviour, and of the closely related interactions between species in ecological communities. Replicator equations describe how successful strategies spread and thereby create new conditions which can alter the basis of their success, i.e. to enable us to understand the strategic and genetic foundations of the endless chronicle of invasions and extinctions which punctuate evolution. In short, evolutionary game theory describes when to escalate a conflict, how to elicit cooperation, why to expect a balance of the sexes, and how to understand natural selection in mathematical terms.

Evolution and Rationality

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Publisher : Cambridge University Press
ISBN 13 : 1107004993
Total Pages : 293 pages
Book Rating : 4.1/5 (7 download)

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Book Synopsis Evolution and Rationality by : Samir Okasha

Download or read book Evolution and Rationality written by Samir Okasha and published by Cambridge University Press. This book was released on 2012-06-21 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume explores from several viewpoints the relationship between Darwinian evolution and the theory of rational choice.