Evolution of Non-Expected Utility Preferences

Download or read book Evolution of Non-Expected Utility Preferences written by Sven von Widekind and published by Springer Science & Business Media. This book was released on 2008-01-08 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.