Topic:- Individual choice theory and game theory are often criticised for using unrealistic and overly demanding assumptions on individual rationality. To what extent do you believe that evolutionary theory provides a satisfactory answer to these criticisms?
How do you assess the usefulness of an evolutionary approach?
Please i beg who would be writing this essay should read the Lecture notes and articles i would be attaching in this order,you would have to have read the lectures and articles to get a better understanding before you can start writing the paper all you need to answer the topic is in there so i urge you to read it carefully and answer it as the lecturer has told us to do so.How he expects the answer to be structure has been given below in his own words….
:- The question is straightforward: on the one hand, we?ve seen that individual choice
theory uses a very specific (and restrictive) definition of rationality. Game theory uses an
even more stringent definition of individual rationality. On the other hand, evolutionary game
theory makes no rationality assumptions. You are asked to comment on whether the
evolutionary approach is successful in addressing the criticism that in neoclassical economics
the profile of the rational individual is not very realistic. On a more general level, you are also
asked to provide your opinion on the usefulness of an evolutionary approach to games; what
insights might we gain that we wouldn?t otherwise get, and why are they interesting?
1:- Have it in my that the most important ones are game theory,evolutionary game theory,path dependence and the conclusion lecture.
2:-The lectures should be read properly ,understood and give judgement based on what you have read.
3;- To many references should not be used cause its more of your opinion and what you think of the topic.
4;- You should talk about how evolutionary theory solve the criticism of individual choice and game theory.
5:- My Lecture notes from 1-6 would be attached which is supposed to be read before writing the essay,cause you need to understand the notes before you can start writing the essay.
6:- Other articles would be attached as well to be read to have a better understanding.
7;- I beg you to write the essay in the best quality because my life depends on this and i really need the grades.
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