Economic decisions

Question 1

Describe optimality models and how they are often used.

Answer 1

Trade-off Principle: Behaviors are based on balancing costs and benefits.
Optimization: Aim to maximize benefits while minimizing costs.
Testing Hypotheses:
Alter trade-off balances experimentally (e.g., food availability changes).
Compare different taxa with varying trade-offs.
Applications: Commonly used in foraging but applicable to other quantifiable behaviors