A number of scholars have recently defended the claim that there is a close connection between the evolutionary biological notion of fitness and the economic notion of utility: both are said to refer to an organism’s success in dealing with its environment, and both are said to play the same theoretical roles in their respective sciences. However, an analysis of two seemingly disparate but in fact structurally related phenomena—‘niche construction’ (the case where organisms change their environment to make it fit (...) to their needs) and ‘adaptive preferences’ (the case where agents change their wants to make them fit to what the world has given them)—shows that one needs to be very careful about the postulation of this sort of fitness–utility connection. Specifically, I here use the analysis of these two phenomena to establish when connecting fitness and utility is and is not possible. (shrink)

How to measure fitness in the theory of natural selection? A fitness measure that has been proposed in both the biological and the philosophical literature is the expected relative reproductive success. The aim of this article is to examine the relationship between expected relative reproductive success and future actual evolutionary success. Doing so will not only clarify the use of expected relative reproductive success as a fitness measure but also shed light on the role of fitness in the theory of (...) natural selection. _1_ Introduction _2_ The Role of Fitness _3_ Geometric Mean versus Expected Relative Reproductive Success _4_ Reconciliation _5_ Reconciliation Continued _6_ Alternative Justifications _7_ Conclusion. (shrink)

In this paper, I consider the recent resurgence of “evolutionary economics”—the idea that evolutionary theory can be very useful to push forward key debates in economics—and assess the extent to which it rests on a plausible foundation. To do this, I first distinguish two ways in which evolutionary theory can, in principle, be brought to bear on an economic problem—namely, evidentially and heuristically—and then apply this distinction to the three major hypotheses that evolutionary economists have come to defend: the implausibility (...) of rational choice theory as an account of economic rationality, the idea that firms are autonomous economic agents, and the need for a more dynamic, less equilibrium-focused economic methodology. In each of these cases, I conclude negatively: the relevant evolutionary considerations neither suggest interesting and novel hypotheses to investigate further (the hallmark of heuristic devices) nor are backed up by the needed data to constitute genuine evidence. I end by distinguishing this criticism of evolutionary economics from others that have been put forward in the literature: in particular, I make clear that, unlike those of other critics, the arguments of this paper are based on epistemic—not structural—considerations and therefore leave more room for a plausible form of evolutionary economics to come about in the future. (shrink)

The critics of rational choice theory frequently claim that RCT is self-defeating in the sense that agents who abide by RCT’s prescriptions are less successful in satisfying their preferences than they would be if they abided by some normative theory of choice other than RCT. In this paper, I combine insights from philosophy of action, philosophy of mind and the normative foundations of RCT to rebut this often-made criticism. I then explicate the implications of my thesis for the wider philosophical (...) debate concerning the normativity of RCT for both ideal agents who can form and revise their intentions instantly without cognitive costs and real-life agents who have limited control over the formation and the dynamics of their own intentions. (shrink)

In this paper, I provide a qualified defense of the claim that cognitive biases are not necessarily signs of irrationality, but rather the result of using normative standards that are too narrow. I show that under certain circumstances, behavior that violates traditional norms of rationality can be adaptive. Yet, I express some reservations about the claim that we should replace our traditional normative standards. Furthermore, I throw doubt on the claim that the replacement of normative standards would license optimistic verdicts (...) about human rationality. (shrink)