Journal of Oceanography and Marine Research
Open Access
ISSN: 2572-3103
+44 1300 500008
ISSN: 2572-3103
+44 1300 500008
Beatriz Baselga-Cervera
Spain
Research Article
Evolutionary Control of Economic Strategy in Fishes: Giffen Behaviour could be a Common Economic Strategy on the Earth?
Author(s): Eduardo Costas, Beatriz Baselga-Cervera, Camino García-Balboa and Victoria Lopez-RodasEduardo Costas, Beatriz Baselga-Cervera, Camino García-Balboa and Victoria Lopez-Rodas
The existence of Giffen behaviour (i.e. the opposite situation to the Law of Demand in which consumers respond to a rising price of a certain good by demanding more of it) associated with poor consumers is one of the major controversies in economics. However, economists rarely consider that nothing makes sense except in light of evolution. In this paper, we prove the existence of Giffen behaviour in animals that exhibit no intelligent reasoning. Sardines feed on phytoplankton, and zooplankton. If the amount of phytoplankton is greater than zooplankton, then Sardines fit the Law of Demand, but if the amount of phytoplankton is smaller, the Sardines apparently show Giffen behaviour. Evolutionary population genetics models show that Giffen behaviour has more adaptive value than follow the Law of Demand under resource scarcity. Since overwhelming animal species live in poverty, Giffen beh.. View More»
DOI:
10.4172/2332-2632.1000131