The Price equation is a mathematical description of evolutionary change in a population.The Price equation was derived by George Price, who worked in London in the late 1960s. Originally a chemist, he became interested in altruism and evolution. In 1970, he published a paper presenting a universal formula describing evolutionary change. Its beauty lies in its generality—it applies not only to genes but to any reproducing entities: ideas, firms, cultural practices. The formula proved so fundamental that the renowned biologist Steven Frank wrote, 'If you have Price's theorem, you need nothing else.'
George Price, an American scientist who moved to England in 1967, became fascinated with the problem of the evolution of altruism. Working with William Hamilton, he sought to provide a rigorous mathematical formulation of natural selection. In 1970, his paper 'Selection and Covariance' was published in Nature, presenting the equation for the first time. Price showed that trait change could be decomposed into a component related to the correlation between trait and fitness, and a component due to changes during inheritance. His work remained little known for a long time but later became a cornerstone in quantitative genetics and game theory.
The Price equation is widely used in theoretical biology to model quantitative traits, in ecology to analyze species interactions, and in social sciences to study the spread of innovations. Limits of applicability: it describes only one-step change in the mean, not dynamics over time. Moreover, applying it requires precise data on individual traits and fitness, which is rarely feasible in natural populations.
Scientists use it to predict how quickly bacteria will become resistant to a new antibiotic, or how viruses mutate to evade immunity.
The Price equation is a mathematical identity, meaning it is always true, like 2+2=4. But that is precisely what makes it such a powerful tool for uncovering the mechanisms of evolution.
| A | variable | Reactant species A — chemical species |
| B | variable | Reactant species B — chemical species |
| C | variable | Product species C — chemical species |
| D | variable | Product species D — chemical species |
| + | operator | Combines reactants or products — addition operator |
| -> | operator | Indicates direction of transformation — reaction arrow |
| \mathbf{y} | variable | output vector — vector |
| \mathbf{x} | variable | input vector — vector |
| \mathbf{A} | variable | linear transformation matrix — matrix |









