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Evolutionary Biology in Economics: A Review
Author(s) -
Collins Jason,
Baer Boris,
Weber Ernst Juerg
Publication year - 2016
Publication title -
economic record
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.365
H-Index - 42
eISSN - 1475-4932
pISSN - 0013-0249
DOI - 10.1111/1475-4932.12260
Subject(s) - thriving , scope (computer science) , natural selection , evolutionary economics , biology , evolutionary biology , evolutionary theory , economics , selection (genetic algorithm) , sociology , neoclassical economics , computer science , social science , artificial intelligence , philosophy , epistemology , programming language
As human traits and preferences were shaped by natural selection, there is substantial potential for the use of evolutionary biology in economic analysis. In this paper, we review the extent to which evolutionary theory has been incorporated into economic research. We examine work in four areas: the evolution of preferences, the molecular genetic basis of economic traits, the interaction of evolutionary and economic dynamics, and the genetic foundations of economic development. These fields comprise a thriving body of research, but have significant scope for further investigation. In particular, the growing accessibility of low‐cost molecular data will create more opportunities for research on the relationship between molecular genetic information and economic traits.