Finanse ewolucyjne
Evolutionary finance

Author(s): Paweł Kliber
Subject(s): Economy, Business Economy / Management, Micro-Economics, Sociobiology, Financial Markets, Socio-Economic Research
Published by: Wydawnictwo Uniwersytetu Ekonomicznego w Poznaniu
Keywords: finanse;finanse ewolucyjne;inwestycje;zachowania ekonomiczne;premia za ryzyko;teoria gier;
Summary/Abstract: In the article we present an evolutionary approach to the theory of finance, which becomes more and more popular in the recent years. This approach, known as ‘evolutionary finance’, differs from both the classical financial theory, based on the general equilibrium theory, and the more recent behavioural approach. As the behavioural approach, the evolutionary finance takes into account financial behaviours of real agents, which very often differ much from the ones proposed by the classical theory. But evolutionary finance (unlike the behavioural approach) also tries to provide explanations of these behaviours. These explanations provide an analysis of processes of historical evolution or some evolution-like processes (i.e. the processes that share the same mechanismas the biological evolution). In the chapter, we provide a brief overview of literature connected with this topic.

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