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 car as we know it is on the way out. To a large extent, I deplore its passing, for as a basically old- fashioned machine, it enshrines a basically old-fashioned idea: freedom. In terms of pollution, noise and human life, the price of that freedom may be high, but perhaps the car, by the very muddle and confusion it causes, may be holding back the remorseless spread of the regimented, electronic society.”
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—Norman Mailer (b. 1923)