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Hamilton’s rule in economic decision-making

Author

Listed:
  • Moshe Levy

    (a School of Business, Hebrew University, Jerusalem 91905, Israel;)

  • Andrew W. Lo

    (b MIT Sloan School of Management, Massachusetts Institute of Technology, Cambridge, MA 02142)

Abstract

Kin selection—helping genetically related individuals even at a cost to oneself—can be evolutionarily advantageous. This is the main theoretical explanation for altruism in the natural world. Hamilton’s rule provides a simple algebraic relationship that captures this profound idea. While behavior consistent with Hamilton’s rule has been observed in many species, a direct and sharp test of this rule has not yet been performed. In this paper, we employ techniques borrowed from experimental economics to test the predictions of Hamilton’s rule. We find strong support for the rule. This result sheds light on the dominant role played by evolutionary biology in explaining human behavior.

Suggested Citation

  • Moshe Levy & Andrew W. Lo, 2022. "Hamilton’s rule in economic decision-making," Proceedings of the National Academy of Sciences, Proceedings of the National Academy of Sciences, vol. 119(16), pages 2108590119-, April.
    • Handle: RePEc:nas:journl:v:119:y:2022:p:e2108590119
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    Citations

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    Cited by:

    1. Flüter-Hoffmann, Christiane & Traub, Patricia, 2023. "Menschen mit Behinderungen im Homeoffice: Erleichterung für die Inklusion? Eine Gegenüberstellung von Deutschland und einigen angelsächsischen Ländern," IW-Reports 10/2023, Institut der deutschen Wirtschaft (IW) / German Economic Institute.
    2. Moshe Levy, 2022. "An evolutionary explanation of the Allais paradox," Journal of Evolutionary Economics, Springer, vol. 32(5), pages 1545-1574, November.

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