منابع مشابه
Choice, Habit and Evolution
Several leading mainstream economists including Gary Becker have treated habit as serially correlated behaviour resulting from deliberate choices. This approach puts choice before habit but involves assumptions of extensive memory and decision-making capacity. By contrast, earlier authors such as William James, John Dewey and Thorstein Veblen saw deliberation and choice as a contingent outcome ...
متن کاملPortfolio and Consumption Choice with Stochastic Investment Opportunities and Habit Formation in Preferences
This paper investigates the dynamic consumption and portfolio choice of an investor with habit formation in preferences and access to a complete financial market with time-varying investment opportunities. An exact and simple characterization of the optimal behavior under general, possibly non-Markov, dynamics of market prices is derived. Relative to the benchmark case of time-additive power ut...
متن کاملLife Cycle Consumption and Portfolio Choice with Additive Habit Formation Preferences and Uninsurable Labor Income Risk
Representative agent asset pricing models with habit formation preferences do not generate implications for the behavior of individual agents. To explore these implications , I consider a life cycle model of consumption, savings and portfolio allocation for a household with additive and endogenous habit formation preferences. To solve the model, I characterize analytically the boundary of admis...
متن کاملMeiotic drive and evolution of female choice.
As a special version of the good-genes hypothesis, it was recently proposed that females could benefit from choosing drive-resistant males in a meiotic drive system. Here, we examine with a three-locus, six-allele population genetic model whether female choice for drive resistance can evolve. An allele leading to female preference for drive-resistant males was introduced at low frequency into a...
متن کاملEvolution and human choice over time.
This chapter reviews previous work on an evolutionary model describing the effect of time delays on human preferences. The model explains why the long-term real interest rate is usually near 3% and why rates of crime and driving accidents are highest among young adults. It does not succeed in explaining the phenomenon of preference reversal. The chapter reports new results on uncertainty and on...
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ژورنال
عنوان ژورنال: Journal of Evolutionary Economics
سال: 2009
ISSN: 0936-9937,1432-1386
DOI: 10.1007/s00191-009-0134-z