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On the Analogies between Evolutionary Models and Economics. A First Analysis.

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Area of Science:

  • Evolutionary Biology
  • Business Management
  • Game Theory

Background:

  • Theories of evolution and business management share underlying principles.
  • Game theory provides a mathematical framework applicable to both domains.
  • Historiographical context is essential for understanding these interdisciplinary links.

Purpose of the Study:

  • To present a novel analysis of analogies between evolutionary theory and business management.
  • To apply game theory as a mathematical tool for this comparison.
  • To frame the topic with preliminary historiographical considerations.

Main Methods:

  • Utilizing game theory as the primary mathematical approach.
  • Developing an example model for business management.
  • Referencing a specific Nash equilibrium (NE) for analysis.
  • Drawing analogies with Evolutionary Stable Strategies (ESS).

Main Results:

  • A foundational analysis demonstrating parallels between evolution and business management is established.
  • The application of game theory, specifically Nash equilibrium, provides a quantitative lens.
  • The concept of Evolutionary Stable Strategies (ESS) is shown to be analogous to certain business management equilibria.

Conclusions:

  • Game theory offers a robust framework for understanding complex interactions in both evolutionary systems and business management.
  • The identified analogies suggest potential for cross-disciplinary insights and strategy development.
  • Further research can explore additional game-theoretic models to deepen this interdisciplinary understanding.