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Experimental Evolution and Economics

Author

Listed:
  • Terence C. Burnham
  • Aimee Dunlap
  • David W. Stephens

Abstract

This is a theory paper that advocates experimental evolution as a novel approach to study economic preferences. Economics could benefit because preferences are exogenous, axiomatic, and contentious. Experimental evolution allows the empirical study of preferences by placing organisms in designed environments and studying their genotype and phenotype over multiple generations. We describe a number of empirical studies on different aspects of preferences. We argue that experimental evolution has the potential to improve economics.

Suggested Citation

  • Terence C. Burnham & Aimee Dunlap & David W. Stephens, 2015. "Experimental Evolution and Economics," SAGE Open, , vol. 5(4), pages 21582440156, November.
    • Handle: RePEc:sae:sagope:v:5:y:2015:i:4:p:2158244015612524
    DOI: 10.1177/2158244015612524
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    References listed on IDEAS

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    Cited by:

    1. John P. Phelan, 2018. "Generating insights into human aging from experimental evolution using bats (or other “slow” life history species)," Journal of Bioeconomics, Springer, vol. 20(1), pages 165-173, April.
    2. Maria Pia Paganelli, 2018. "Adam Smith on the future of experimental evolution and economics," Journal of Bioeconomics, Springer, vol. 20(1), pages 23-28, April.
    3. Richard E. Lenski & Terence C. Burnham, 2018. "Experimental evolution of bacteria across 60,000 generations, and what it might mean for economics and human decision-making," Journal of Bioeconomics, Springer, vol. 20(1), pages 107-124, April.
    4. Terence C. Burnham & John P. Phelan, 2018. "Fair is foul, and foul is fair: experimental evolutionary studies of mismatch," Journal of Bioeconomics, Springer, vol. 20(1), pages 153-157, April.
    5. Roberto Cazzolla Gatti & Roger Koppl & Brian D. Fath & Stuart Kauffman & Wim Hordijk & Robert E. Ulanowicz, 2020. "On the emergence of ecological and economic niches," Journal of Bioeconomics, Springer, vol. 22(2), pages 99-127, July.
    6. Paul J. Zak, 2018. "The evolutionary origins of cooperation and trade," Journal of Bioeconomics, Springer, vol. 20(1), pages 179-181, April.
    7. Terence C. Burnham, 2016. "Economics and evolutionary mismatch: humans in novel settings do not maximize," Journal of Bioeconomics, Springer, vol. 18(3), pages 195-209, October.
    8. Terence C. Burnham & Jay Phelan, 2020. "Ordinaries," Journal of Bioeconomics, Springer, vol. 22(1), pages 1-14, April.
    9. Andrew W. Lo & H. Allen Orr & Ruixun Zhang, 2018. "The growth of relative wealth and the Kelly criterion," Journal of Bioeconomics, Springer, vol. 20(1), pages 49-67, April.
    10. J. Jeffrey Morris & Eric Schniter, 2018. "Black Queen markets: commensalism, dependency, and the evolution of cooperative specialization in human society," Journal of Bioeconomics, Springer, vol. 20(1), pages 69-105, April.
    11. H. Allen Orr, 2018. "Evolution, finance, and the population genetics of relative wealth," Journal of Bioeconomics, Springer, vol. 20(1), pages 29-48, April.
    12. Mellissa Marcus & Terence C. Burnham & David W. Stephens & Aimee S. Dunlap, 2018. "Experimental evolution of color preference for oviposition in Drosophila melanogaster," Journal of Bioeconomics, Springer, vol. 20(1), pages 125-140, April.

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