Shifting balance theory Shifting balance theory The shifting balance theory is a theory of evolution proposed in 1932 by Sewall Wright, suggesting that adaptive evolution may proceed most quickly when a population divides into subpopulations with restricted gene flow. The name of the theory is borrowed from Wright's metaphor of fitness landscapes (evolutionary landscapes), attempting to explain how a population may move across an adaptive valley to a higher adaptive peak. According to the theory, this movement occurs in three steps: Although shifting balance theory has been influential in evolutionary biology, inspiring the theories of quantum evolution and punctuated equilibrium, little empirical evidence
Uncertainty, Evolution, and Economic Theory 34 (3) San José State University Department of Economics. Watkins, Thayer. applet-magic.com. Winter, Sidney G. (2005) “Developing Evolutionary Theory for Economics and Management.” In M. Hitt and K. G. Smith (eds). The Oxford Handbook of Management Theory, Oxford: Oxford University Press. Uncertainty, Evolution, and Economic Theory “Uncertainty, Evolution, and Economic Theory” is the title of an article written in 1950 by economist Armen Alchian (1914-2013). In this article, Alchian delineates an evolutionary approach to describe firms’ behavior. His theory embodies principles of biological evolution and natural selection. This article is among the first in the economics literature to analogize between