Author Description

2.1.4 Asymptotic Properties -- 2.2 Probability Matching -- 2.2.1 Exact Probability Matching -- 2.2.2 The General Case -- 2.2.3 Individually Optimal Vs Growth-optimal Behaviour -- 2.3 Risk Preferences -- 2.3.1 Growth-optimal Risk Preferences -- 2.3.2 Risk Aversion -- 2.3.3 Loss Aversion -- 2.4 Idiosyncratic Versus Systematic Risk -- 2.4.1 Idiosyncratic Risk -- 2.4.2 The General Case -- 2.5 Discussion -- 3 Mutation -- 3.1 Environments With Mutation -- 3.1.1 Asymptotic Population Dynamics -- 3.1.2 Extinction Probability -- 3.2 The Optimal Degree Of Irrationality 3.2.1 An Example With Two Behaviours -- 3.3 Generalization And Simulation -- 3.3.1 Symmetric Regimes -- 3.3.2 Asymmetric Regimes -- 3.3.3 When Mutation Is Undesirable -- 3.3.4 Optimal Degree Of Irrationality -- 3.4 Discussion -- 4 Group Selection -- 4.1 Environments With Factor Structure -- 4.2 Individual Versus Group Optimality -- 4.3 Multinomial Choice With Multiple Factors -- 4.4 A Numerical Example -- 4.5 Discussion -- Part Ii. Behaviour -- 5 Probability Matching -- 5.1 The Binary Choice Game -- 5.2 Summary Statistics -- 5.3 A Model Of Individual Behaviour -- 5.4 Initial Learning 5.5 Decision Autocorrelation -- 5.6 Probability Matching -- 5.7 Individual Differences -- 5.8 Discussion -- 6 Risk Aversion -- 6.1 Environments With Mixed Risks -- 6.2 Individual Preferences -- 6.3 Risk Aversion And Systematic Risk -- 6.4 Common Distributions Of Relative Fecundity -- 6.5 Testable Implications -- 6.5.1 Biology And Behavioural Ecology -- 6.5.2 Financial Economics -- 6.5.3 The Equity Premium And Systematic Risk -- 6.6 Discussion -- 7 Cooperation -- 7.1 Environments With Interactions -- 7.1.1 Assumptions -- 7.1.2 Results -- 7.1.3 Evolutionary Optimality -- 7.1.4 Idiosyncratic Risk 7.1.5 Random Matching -- 7.1.6 Density Dependence -- 7.2 Behavioural Implications -- 7.2.1 Specialization -- 7.2.2 Sacrifice -- 7.2.3 Coordination -- 7.3 Discussion -- 8 Bounded Rationality And Intelligence -- 8.1 Environments With Intelligence -- 8.2 An Evolutionary Definition Of Intelligence -- 8.3 Bounded Rationality -- 8.4 A Universal Measure Of Intelligence And Its Cost -- 8.5 Upper Bound On Correlation -- 8.6 Intelligence Across Generations -- 8.6.1 No Inter-generational Variation -- 8.6.2 Inter-generational Variation -- 8.7 Discussion -- 9 Learning To Be Bayesian Andrew W. Lo, Ruixun Zhang. Also Issued In Print: 2024. Includes Bibliographical References And Index. Electronic Reproduction. Ann Arbor, Mi Available Via World Wide Web.