The Price equation (also known as Price's equation or Price's theorem) is a covariance equation which is a mathematical description of evolution and natural selection. The Price equation was derived by George R. Price, working in London to re-derive W.D. Hamilton's work on kin selection. The Price equation also has applications in economics.
Price's equation is a theorem; it is a statement of mathematical fact between certain variables, and its value lies in the insight gained by assigning certain values encountered in evolutionary genetics to the variables. It provides us a way to understand the effects that gene transmission and natural selection have on the proportion of genes within each new generation of a population.
Read more about Price Equation: Statement, Proof of The Price Equation, Simple Price Equation, Full Price Equation, Criticism On The Use of The Price Equation, Cultural References
Famous quotes containing the words price and/or equation:
“The price we pay for the complexity of life is too high. When you think of all the effort you have to put in—telephonic, technological and relational—to alter even the slightest bit of behaviour in this strange world we call social life, you are left pining for the straightforwardness of primitive peoples and their physical work.”
—Jean Baudrillard (b. 1929)
“A nation fights well in proportion to the amount of men and materials it has. And the other equation is that the individual soldier in that army is a more effective soldier the poorer his standard of living has been in the past.”
—Norman Mailer (b. 1923)