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Evolutionary theory of economic decisions | Science Daily

Evolutionary theory of economic decisions | Science Daily

The expected theory of utility studies the idea of individuals’ choices that have uncertain outcomes. Holland Jones, a biological anthropologist, says that when it comes to preferences that evolve by natural selection, we should expect to see people undervalue long shots that could be profitable, play it safe when things look risky, and generally overestimate the likelihood of rare bad outcomes. The theory will undergo experiments as soon as social distancing policies loosen where they will initiate games challenging participants and understand their behavior during this uncertain time.

Source: https://www.sciencedaily.com/releases/2020/08/200811163313.htm