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Evolution of Non-Expected Utility Preferences Sven von Widekind

Evolution of Non-Expected Utility Preferences By Sven von Widekind

Evolution of Non-Expected Utility Preferences by Sven von Widekind


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Summary

The theory on the evolution of preferences deals with the endogenous formation of preference relations in strategic situations. In particular, we demonstrate that preferences which diverge from von Neumann-Morgenstern expected utility may potentially prove to be successful under evolutionary pressures.

Evolution of Non-Expected Utility Preferences Summary

Evolution of Non-Expected Utility Preferences by Sven von Widekind

The theory on the evolution of preferences deals with the endogenous formation of preference relations in strategic situations. It is related to the field of evolutionary game theory. In this book we analyze the role and the influence of general, possibly non-expected utility preferences in such an evolutionary setup. In particular, we demonstrate that preferences which diverge from von Neumann-Morgenstern expected utility may potentially prove to be successful under evolutionary pressures.

Table of Contents

The Model and a General Existence Result.- Examples: Properties of the Model.- Evolutionary Extinction of Expected Utility Preferences.- Evolution with More Sophisticated Types.- A Model with Two Populations.- Conclusions.

Additional information

NLS9783540768418
9783540768418
3540768416
Evolution of Non-Expected Utility Preferences by Sven von Widekind
New
Paperback
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
2008-01-11
130
N/A
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