Rationality

Evolution as Alternative to Rationality

The other end of the scale: no rationality at all

the forces of nature

overreproduction

selection

mutation

as powerful as a basis for a theory as rationality

Evolutionary Game Theory started with two biologists,

Maynard Smith, Price, 1973

Oechssler, R.,Journal of Economic Theory 2002, Cressman,

Hofbauer, R.,Journal of Theoretical Biology, 2006

develop evolutionary game theory as dynamic systems on the Banach

space of finite measures over metric spaces,

d

dt

Pt(A) =

∫

A

σ(x,Pt)Pt(dx)

Louge, R., Auctions, IMW Working Paper 2010