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Epictetusian Rationality and Evolutionary Stability

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  • Ponthiere, Gregory

Abstract

An economic interpretation of Epictetus's precept of 'Taking away aversion from all things not in our power' consists of extending the do- main of indifference beyond its boundaries under non-ethical preferences, so as to yield indifference between outcomes differing only on things out- side one's control. This paper examines the evolutionary dynamics of a population composed of Nash agents and Epictetusian agents matched randomly and interacting in the prisoner's dilemma game. It is shown that, whether or not the types of players are common knowledge, nei- ther the Nash nor the Epictetusian type is an evolutionary stable strategy under perfectly random matching. However, if the matching process ex- hibits a suffi ciently high degree of assortativity, the Epictetusian type is an evolutionary stable strategy, and drives the Nash type to extinction.

Suggested Citation

  • Ponthiere, Gregory, 2023. "Epictetusian Rationality and Evolutionary Stability," GLO Discussion Paper Series 1230, Global Labor Organization (GLO).
    • Handle: RePEc:zbw:glodps:1230
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    References listed on IDEAS

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    1. Gregory Ponthiere, 2024. "Epictetusian rationality," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 78(1), pages 219-262, August.
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    More about this item

    Keywords

    ethical preferences; evolutionary stability; cooperation; prisoner's dilemma; Epictetus;
    All these keywords.

    JEL classification:

    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • D60 - Microeconomics - - Welfare Economics - - - General

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