Publication year: 2008
ISBN: 978-3-540-76845-6
Internet Resource: Please Login to download book
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.
Subject: Business and Economics, Efficient Strategy, Evolution of Preferences, Indirect Evolutionary Approach, Non-Expected Utility Theory, Stable Population, game theory