Price equation

In the theory of evolution and natural selection, the Price equation (also known as Price's equation or Price's theorem) describes how a trait or allele changes in frequency over time. The equation uses a covariance between a trait and fitness, to give a mathematical description of evolution and natural selection. It provides a way to understand the effects that gene transmission and natural selection have on the frequency of alleles within each new generation of a population. The Price equation was derived by George R. Price, working in London to re-derive W.D. Hamilton's work on kin selection. Examples of the Price equation have been constructed for various evolutionary cases. The Price equation also has applications in economics.^[1]

The Price equation is a mathematical relationship between various statistical descriptors of population dynamics, rather than a physical or biological law, and as such is not subject to experimental verification. In simple terms, it is a mathematical statement of the expression "survival of the fittest".