Seminario CEDE - Alvaro Sandroni

The abilities that produce evolutionary advantages can be systematically impaired after repeated competitions with highly hereditarian transmission of the winners' abilities. Economically relevant abilities may therefore not emerge after multiple competitions. Instead, ability may gradually deteriorate over time (i.e., converge to complete ineptitude) or change with no ultimate direction. This evolutionary antithesis is counterintuitive, but holds under general premises of core models of repeated competitions.