Instant Access to the Journals You Need

for just $40 per month.

Start Your Free Trial

Decision Theory as a Branch of Evolutionary Theory

Decision Theory as a Branch of Evolutionary Theory

Abstract

This article examines the possibility that the theory of rational choice under uncertainty, including cognate theories of utility and subjective probability, may ultimately be reducible to a basis of evolutionary theory. As preliminary support for this reducibility hypothesis, L. Savage's classic axiomatization of decision theory, utility, and personal probability is derived mathematically from a simple biological population process model. The derivation establishes that the evolutionary constraint of fitness maximization imposed on organismic behavior by the action of natural selection can give rise to formal consequences comparable to the standard laws of rational choice, utility, and personal probability. If the logic of decision is ultimately biological, as the reducibility hypothesis suggests, profound changes may be called for in our perception of the character of rational judgment and in our methods of investigating it. Classical standards of rationality could no longer be regarded as absolute, behavior previously thought irrational might turn out to be biologically rational, and evolutionary process models would become potential psychological hypotheses concerning reasoned behavior.
Loading next page...
 
/lp/psycarticles-reg/decision-theory-as-a-branch-of-evolutionary-theory-phAWHzIsus

You're reading a free preview. Subscribe to read the entire article.

And millions more from thousands of peer-reviewed journals, for only $40/month.

Start Your Free Trial

What content is in DeepDyve?

  • Read and share from thousands of the leading scholarly journals from Springer, Elsevier, Nature, IEEE, Wiley-Blackwell and more.
  • All the latest content is available, no embargo periods.

Rent Scholarly Articles?

  • Read the full article in your browser.
  • Access all of your rentals from the cloud anywhere you have an internet connection.
  • Beautiful reading experience – Full charts and figures, just like the PDF.
  • Read as much as you'd like - whenever you'd like.

Happy Users

“In one word renting from DeepDyve is FANTASTIC!!! ... 99% of the time I only need access to an article for a month or so, so renting the articles is perfect for me.”

Adam S.

“Thanks for a great service! For an unaffiliated science blogger like myself this is like a dream come true.”

Seppo P.

“Hi guys, I cannot tell you how much I love this resource. Incredible. I really believe you've hit the nail on the head with this site in regards to solving the research-purchase issue.”

Daniel C.

“Let me seize this opportunity and congratulate you on the service you are rendering to the scientific community.”

Joao B.