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 of Marginal analysis. “Uncertainty, Evolution, and Economic Theory” was Alchian’s first major article. It is hailed by most evolutionary economists as an important and seminal contribution to economic theory. Economists who consider the article a powerful defense of the assumption of profit maximization include Arthur S. De Vany, Harold Demsetz, and Benjamin Klein. "Uncertainty, Evolution, and Economic Theory" drew criticism from Sidney G. Winter; he argued that Alchian failed to consider the transmission mechanisms that determine successful behaviors, and how they can be maintained and copied over time. According to Winter if maximizing profits is not a result of conscious