Evolution of a risk coefficient in artificial societies

In this paper we investigate how life expectation influences the development of risk attitude within an artificial species. Our hypothesis is that agents with a very long life span are likely to become more risk averse because they have more to lose. To assess this hypothesis we set up a simple system, based on Sugarscape, where risk attitude is an inheritable (hence, evolvable) property. Performing numerous simulations with different versions of this system we found that long-lived agents consistently and clearly evolve a more risk averse behavior than short-lived agents. Perceiving evolution as a general force towards optimal behavior, these results indicate that increased risk avoidance is a generally good strategy for agents with a higher life expectation. This finding can be used to explain various real-world phenomena. For instance, it can clarify the fact that people tend to adopt risky strategies when their life is in danger.