Walras and Darwin: an odd couple?

• DOI: 10.1007/s00191-006-0037-1
• Publication Date: 2006-09-15T11:48:35Z
• Authors: Reinoud Joosten
• Keywords: IR-58566; METIS-237328; 0502 economics and business; 05 social sciences; General equilibrium theory; Evolutionary game theory

General equilibrium theory and the evolutionary branches of economics and game theory take rather opposite positions in the spectrum covered by the economic science. However, we reveal and explore analogies between Darwinian dynamics and Walrasian tâtonnement processes for pure exchange economies, as well as further analogies implied by these.