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SUMMARY:Biology and the Arguments of Utility by Prof. Arthur Robson - Arth
 ur Robson (Simon Fraser University)  
DTSTART:20140519T150000Z
DTEND:20140519T163000Z
UID:TALK52704@talks.cam.ac.uk
CONTACT:Cambridge-INET Institute\, Faculty of Economics
DESCRIPTION:Why did evolution not give us a utility function that is offsp
 ring alone? Why do we care intrinsically about other outcomes\, such as fo
 od\, and what determines the intensity of such preferences? A common view 
 is that such other outcomes enhance fitness and the intensity of our prefe
 rence for a given outcome is proportional to its contribution to fitness. 
 We argue that this view is incomplete. Specifically\, we show that in the 
 presence of informational asymmetries\, the evolutionarily most desirable 
 preference for a given outcome is determined not only by the significance 
 of the outcome\, but by the Agent's degree of ignorance regarding its sign
 ificance. Our model also sheds light on the phenomena of peer effects and 
 prepared learning\, whereby some peer attitudes are more influential than 
 others.
LOCATION:Meade Room\, Faculty of Economics\, Cambridge
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