Pub Date : 2017-11-28DOI: 10.1007/s10818-017-9263-x
J. J. Morris, Eric Schniter
{"title":"Black Queen markets: commensalism, dependency, and the evolution of cooperative specialization in human society","authors":"J. J. Morris, Eric Schniter","doi":"10.1007/s10818-017-9263-x","DOIUrl":"https://doi.org/10.1007/s10818-017-9263-x","url":null,"abstract":"","PeriodicalId":35608,"journal":{"name":"Journal of Bioeconomics","volume":"20 1","pages":"69 - 105"},"PeriodicalIF":0.0,"publicationDate":"2017-11-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s10818-017-9263-x","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"52349185","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-11-27DOI: 10.1007/s10818-017-9262-y
J. Phelan
{"title":"Generating insights into human aging from experimental evolution using bats (or other “slow” life history species)","authors":"J. Phelan","doi":"10.1007/s10818-017-9262-y","DOIUrl":"https://doi.org/10.1007/s10818-017-9262-y","url":null,"abstract":"","PeriodicalId":35608,"journal":{"name":"Journal of Bioeconomics","volume":"20 1","pages":"165 - 173"},"PeriodicalIF":0.0,"publicationDate":"2017-11-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s10818-017-9262-y","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"52349162","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-09-11DOI: 10.1007/s10818-017-9254-y
H. Orr
{"title":"Evolution, finance, and the population genetics of relative wealth","authors":"H. Orr","doi":"10.1007/s10818-017-9254-y","DOIUrl":"https://doi.org/10.1007/s10818-017-9254-y","url":null,"abstract":"","PeriodicalId":35608,"journal":{"name":"Journal of Bioeconomics","volume":"20 1","pages":"29 - 48"},"PeriodicalIF":0.0,"publicationDate":"2017-09-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s10818-017-9254-y","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43220053","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-09-09DOI: 10.1007/s10818-017-9253-z
A. Lo, H. Orr, Ruixun Zhang
{"title":"The growth of relative wealth and the Kelly criterion","authors":"A. Lo, H. Orr, Ruixun Zhang","doi":"10.1007/s10818-017-9253-z","DOIUrl":"https://doi.org/10.1007/s10818-017-9253-z","url":null,"abstract":"","PeriodicalId":35608,"journal":{"name":"Journal of Bioeconomics","volume":"20 1","pages":"49 - 67"},"PeriodicalIF":0.0,"publicationDate":"2017-09-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s10818-017-9253-z","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43627650","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-09-05DOI: 10.1007/s10818-017-9255-x
Ryan H. Murphy, Alex Nowrasteh
{"title":"The deep roots of economic development in the U.S. states: an application of Putterman and Weil (2010)","authors":"Ryan H. Murphy, Alex Nowrasteh","doi":"10.1007/s10818-017-9255-x","DOIUrl":"https://doi.org/10.1007/s10818-017-9255-x","url":null,"abstract":"","PeriodicalId":35608,"journal":{"name":"Journal of Bioeconomics","volume":"20 1","pages":"227 - 242"},"PeriodicalIF":0.0,"publicationDate":"2017-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s10818-017-9255-x","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42551738","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We propose an evolutionary framework for optimal portfolio growth theory in which investors subject to environmental pressures allocate their wealth between two assets. By considering both absolute wealth and relative wealth between investors, we show that different investor behaviors survive in different environments. When investors maximize their relative wealth, the Kelly criterion is optimal only under certain conditions, which are identified. The initial relative wealth plays a critical role in determining the deviation of optimal behavior from the Kelly criterion regardless of whether the investor is myopic across a single time period or maximizing wealth over an infinite horizon. We relate these results to population genetics, and discuss testable consequences of these findings using experimental evolution.
{"title":"The growth of relative wealth and the Kelly criterion","authors":"Andrew W. Lo, Allen Orr, Ruixun Zhang","doi":"10.2139/ssrn.2900509","DOIUrl":"https://doi.org/10.2139/ssrn.2900509","url":null,"abstract":"We propose an evolutionary framework for optimal portfolio growth theory in which investors subject to environmental pressures allocate their wealth between two assets. By considering both absolute wealth and relative wealth between investors, we show that different investor behaviors survive in different environments. When investors maximize their relative wealth, the Kelly criterion is optimal only under certain conditions, which are identified. The initial relative wealth plays a critical role in determining the deviation of optimal behavior from the Kelly criterion regardless of whether the investor is myopic across a single time period or maximizing wealth over an infinite horizon. We relate these results to population genetics, and discuss testable consequences of these findings using experimental evolution.","PeriodicalId":35608,"journal":{"name":"Journal of Bioeconomics","volume":"20 1","pages":"49-67"},"PeriodicalIF":0.0,"publicationDate":"2017-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.2139/ssrn.2900509","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47734414","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-07-01DOI: 10.1007/S10818-016-9237-4
M. Altman
{"title":"John Tomer: Integrating human capital with human development: the path to a more productive and humane economy. Palgrave advances in behavioral economics, Palgrave Macmillan, London, 2015","authors":"M. Altman","doi":"10.1007/S10818-016-9237-4","DOIUrl":"https://doi.org/10.1007/S10818-016-9237-4","url":null,"abstract":"","PeriodicalId":35608,"journal":{"name":"Journal of Bioeconomics","volume":"19 1","pages":"247-251"},"PeriodicalIF":0.0,"publicationDate":"2017-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/S10818-016-9237-4","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44007809","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-05-23DOI: 10.1007/s10818-017-9251-1
Filipe Nobre Faria
{"title":"Is market liberalism adaptive? Rethinking F. A. Hayek on moral evolution","authors":"Filipe Nobre Faria","doi":"10.1007/s10818-017-9251-1","DOIUrl":"https://doi.org/10.1007/s10818-017-9251-1","url":null,"abstract":"","PeriodicalId":35608,"journal":{"name":"Journal of Bioeconomics","volume":"19 1","pages":"307 - 326"},"PeriodicalIF":0.0,"publicationDate":"2017-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s10818-017-9251-1","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"52349104","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-03-27DOI: 10.1007/s10818-017-9248-9
H. Uysal, Huseyin Atasoy, U. Bilge
{"title":"An essay on the biological origin of producing surplus value by human labor","authors":"H. Uysal, Huseyin Atasoy, U. Bilge","doi":"10.1007/s10818-017-9248-9","DOIUrl":"https://doi.org/10.1007/s10818-017-9248-9","url":null,"abstract":"","PeriodicalId":35608,"journal":{"name":"Journal of Bioeconomics","volume":"6 1","pages":"187 - 199"},"PeriodicalIF":0.0,"publicationDate":"2017-03-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s10818-017-9248-9","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"52349075","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-03-08DOI: 10.1007/s10818-017-9245-z
A. Marciano
{"title":"David McFarland, The biological bases of economic behavior. A concise introduction","authors":"A. Marciano","doi":"10.1007/s10818-017-9245-z","DOIUrl":"https://doi.org/10.1007/s10818-017-9245-z","url":null,"abstract":"","PeriodicalId":35608,"journal":{"name":"Journal of Bioeconomics","volume":"19 1","pages":"257 - 260"},"PeriodicalIF":0.0,"publicationDate":"2017-03-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s10818-017-9245-z","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"52349011","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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