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Information, evolution and utility

Author

Listed:
  • Larry Samuelson
  • Jeroen Swinkels

Abstract

Human utility embodies a number of seemingly irrational aspects. The leading example in this paper is that utilities often depend on the presence of salient unchosen alternatives. Our focus is to understand why an evolutionary process might optimally lead to such seemingly dysfunctional features in our motivations and to derive implications for the nature of our utility functions.
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Suggested Citation

  • Larry Samuelson & Jeroen Swinkels, 2010. "Information, evolution and utility," Levine's Working Paper Archive 506439000000000472, David K. Levine.
    • Handle: RePEc:cla:levarc:506439000000000472
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    File URL: http://www.dklevine.com/archive/refs4506439000000000472.pdf
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    JEL classification:

    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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