Related papers: Risk aversion as an evolutionary adaptation

Existing theoretical models of evolution focus on the relative fitness advantages of different mutants in a population while the dynamic behavior of the population size is mostly left unconsidered. We here present a generic stochastic model…

Cooperation is a major factor in the evolution of human societies. The structure of human social networks, which affects the dynamics of cooperation and other interpersonal phenomena, have common structural signatures. One of these…

The last financial and economic crisis demonstrated the dysfunctional long-term effects of aggressive behaviour in financial markets. Yet, evolutionary game theory predicts that under the condition of strategic dependence a certain degree…

Disgust is a basic emotion that serves to avoid contaminants, and is central to the behavioural immune system. While disgust-motivated avoidance occurs in bonobos and chimpanzees, humans show uniquely high levels of contamination…

We discuss the feasibility of predicting, managing and subsequently manipulating, the future evolution of a Complex Adaptive System. Our archetypal system mimics a population of adaptive, interacting objects, such as those arising in the…

Many theoretical models have been formulated to better understand the coevolutionary patterns that emerge from antagonistic interactions. These models usually assume that the attacks by the exploiters are random, so the effect of victim…

The contact structure of the population shapes the progression of epidemics. Nonetheless, the joint evolution of individual behavioral adaptations and disease dynamics on networks remains poorly understood. We use a…

The ultimatum game has been a prominent paradigm in studying the evolution of fairness. It predicts that responders should accept any nonzero offer and proposers should offer the smallest possible amount according to orthodox game theory.…

Decision-making individuals often imitate their highest-earning fellows rather than optimize their own utilities, due to bounded rationality and incomplete information. Perpetual fluctuations between decisions have been reported as the…

Understanding the emergence and sustainability of cooperation is a fundamental problem in evolutionary biology and is frequently studied by the framework of evolutionary game theory. A very powerful mechanism to promote cooperation is…

We run experimental asset markets to investigate the emergence of excess trading and the occurrence of synchronised trading activity leading to crashes in the artificial markets. The market environment favours early investment in the risky…

Understanding the origins of volunteerism and free-riding is crucial in collective action situations where a sufficient number of cooperators is necessary to achieve shared benefits, such as in vaccination campaigns and social change…

Humans exhibit irrational decision-making patterns in response to environmental triggers, such as experiencing an economic loss or gain. In this paper we investigate whether algorithms exhibit the same behavior by examining the observed…

The modelling of evolutionary game dynamics in finite populations requires microscopic processes that determine how strategies spread. The exact details of these processes are often chosen without much further consideration. Different types…

We introduce a way to compare actions in decision problems. One action is safer than another if the set of beliefs at which the decision-maker prefers the safer action expands as the decision-maker becomes more risk averse. We provide a…

Under mean-variance-utility framework, we propose a new portfolio selection model, which allows wealth and time both have influences on risk aversion in the process of investment. We solved the model under a game theoretic framework and…

Interactions among individuals in natural populations often occur in a dynamically changing environment. Understanding the role of environmental variation in population dynamics has long been a central topic in theoretical ecology and…

In this paper, we analyse inspection games with an evolutionary perspective. In our evolutionary inspection game with a large population, each individual is not a rational payoff maximiser, but periodically updates his strategy if he…

People make strategic decisions many times a day - during negotiations, when coordinating actions with others, or when choosing partners for cooperation. The resulting dynamics can be studied with learning theory and evolutionary game…

Iterated games are a fundamental component of economic and evolutionary game theory. They describe situations where two players interact repeatedly and have the possibility to use conditional strategies that depend on the outcome of…