Evolution of Non-Expected Utility Preferences

Includes supplementary material: sn.pub/extras

Klappentext

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.

Inhalt
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.