Animal decision-making and the 'Concorde fallacy'.
- EconomicsTrends in ecology & evolution
The Time and Social Context in Sunk-Cost Effect
In classic economic literature, decisions based on unrecoverable past investments instead of future gains are considered fallacies. They are known as the sunk-cost fallacy in humans and Concorde…
The sunk cost and Concorde effects: Are humans less rational than lower animals?
The sunk cost effect is a maladaptive economic behavior that is manifested in a greater tendency to continue an endeavor once an investment in money, effort, or time has been made. The Concorde…
Parental investment decision rules and the Concorde fallacy
- EconomicsBehavioral Ecology and Sociobiology
This work extends Williams' principle and develops an experimental design that would allow past investment and expected benefits to be varied independently, and illustrates the importance of the value of the brood relative to thevalue of future reproduction.
The Evolutionary Logic of Honoring Sunk Costs
Although economics claims that sunk costs should not figure in current decision‐making, there is ample evidence to suggest that people squander resources by honoring bygones. We argue that such…
The parental investment models of Maynard Smith: a retrospective and prospective view
- PsychologyAnimal Behaviour
The evolution of respect for property
- BiologyJournal of evolutionary biology
Although most model extensions facilitate the evolution of Bourgeois‐like behaviour, secret handshakes and continuous control of fighting investment render the alternative anti‐Bourgeois convention unstable, these insights are developed to highlight several key areas for future investigation.
The economics of evolution: Henry Ford and the Model T
A specific model is used to show that, even following selection to ameliorate the effects of damage, those body parts that receive more damage are still more likely to be the ultimate cause of death – that is, there is ‘under-compensation’.
How residency duration affects the outcome of a territorial contest: Complementary game-theoretic models.
- EconomicsJournal of theoretical biology
An Economic Theory of the Evolutionary Emergence of Property Rights
ne of the most fundamental axioms of the analysis of market economies is that property rights are well-defined. These rights are taken to be assigned by law and to be enforced by the legal system. In…
SHOWING 1-10 OF 14 REFERENCES
Evolutionarily stable nesting strategy in a digger wasp.
- Environmental ScienceJournal of theoretical biology
The theory of games and the evolution of animal conflicts.
- PsychologyJournal of theoretical biology
Joint Nesting in a Digger Wasp as an Evolutionarily Stable Preadaptation To Social Life
A mathematical model assuming 'dig/enter' as a mixed evolutionarily stable strategy has some predictive success andVariants of the Sphex model may be applicable to other species, and may help the understanding of the evolution of group living.
Optimization Theory in Evolution
The basic structure of optimization arguments is outlined, and the possibility that some variation may be selectively neutral, and some structures maladaptive is discussed, as well as comment on criticisms made by Lewontin.
Parental investment and sexual selection
The p,cnetics of sex nas now becn clarif ied, and Fishcr ( 1958 ) hrs produccd , n,od"l to cxplarn sex ratios at coDception, a nrodel recently extendcd to include special mccha_ nisms that operate under inbreeding (Hunrilron I96?).
Parental investment, mate desertion and a fallacy
TRIVERS1 defines parental investment as “any investment by the parent in an individual offspring that increases the offspring's chance of surviving … at the cost of the parent's ability to invest in…
Territorial defence in the speckled wood butterfly (Pararge aegeria): The resident always wins
- Environmental ScienceAnimal Behaviour