Article
Absolute fitness, relative fitness, and utility.
Evolution; international journal of organic evolution - 1 Dec 2007
Orr H Allen
Abstract excerpt
It is well known that (1) natural selection typically favors an allele with both a large mean fitness and a small variance in fitness; and (2) investors typically prefer a portfolio with both a large mean return and a small variance in returns. In the case of investors, this mean-variance trade-off reflects risk aversion; in the case of evolution, the mathematics is straightforward but the result is harder to...
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