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Evolving to the Impatience Trap: The Example of the Farmer-Sheriff Game

Federico Weinschelbaum, David Levine, Salvatore Modica and Felipe Zurita
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Salvatore Modica: Universita degli Studi di Palermo

No 109, Working Papers from Universidad de San Andres, Departamento de Economia

Abstract: The literature on the evolution of impatience, focusing on one-person decision problems, finds that evolutionary forces favor the more patient individuals. This paper shows that in the context of a game, this is not necessarily the case. In particular, it offers a two-population example where evolutionary forces favor impatience in one group while favoring patience in the other. Moreover, not only evolution but also efficiency may prefer impatient individuals. In our example, it is efficient for one population to evolve impatience and for the other to develop patience. Yet, evolutionary forces move the wrong populations.

Keywords: impatience trap; farmer-sheriff game (search for similar items in EconPapers)
Pages: 31 pages
Date: 2010-07, Revised 2011-08
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Citations: View citations in EconPapers (6)

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https://webacademicos.udesa.edu.ar/pub/econ/doc109.pdf First version, 2011 (application/pdf)

Related works:
Working Paper: Evolving to the impatience trap: the example of the farmer-sheriff game (2012) Downloads
Working Paper: Evolving to the Impatience Trap: The Example of the Farmer-Sheriff Game (2011) Downloads
Working Paper: Evolving to the Impatience Trap: The Example of the Farmer-Sheriff Game (2011) Downloads
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