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Intergenerational transmission of preferences

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  • Bulte, Erwin H.
  • Horan, Richard D.

Abstract

We propose a perfect empathy model of cultural transmission to capture the evolution of preferences in a population. Unlike existing imperfect empathy models, focusing on stable interior equilibria, we demonstrate that a corner outcome will eventuate. However, which corner outcome emerges is unknown, and depends on the interplay of "history" and "expectations".

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File URL: http://www.sciencedirect.com/science/article/pii/S016517651100142X
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Bibliographic Info

Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 112 (2011)
Issue (Month): 1 (July)
Pages: 85-87

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Handle: RePEc:eee:ecolet:v:112:y:2011:i:1:p:85-87

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Web page: http://www.elsevier.com/locate/ecolet

Related research

Keywords: Endogenous preferences Transmission of preferences Evolving norms Dynamics of culture;

References

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  1. Guido Tabellini, 2008. "The Scope of Cooperation: Values and Incentives," The Quarterly Journal of Economics, MIT Press, vol. 123(3), pages 905-950, August.
  2. repec:bla:restud:v:74:y:2007:i:3:p:685-704 is not listed on IDEAS
  3. Nick Netzer, 2009. "Evolution of Time Preferences and Attitudes toward Risk," American Economic Review, American Economic Association, vol. 99(3), pages 937-55, June.
  4. Bisin, A. & Verdier, T., 1999. "Beyond the Melting Pot : Cultural Transmission, Marriage, and the Evolution of Ethnic and Religious Traits," DELTA Working Papers 1999-10, DELTA (Ecole normale supérieure).
  5. Bisin, Alberto & Verdier, Thierry, 2001. "The Economics of Cultural Transmission and the Dynamics of Preferences," Journal of Economic Theory, Elsevier, vol. 97(2), pages 298-319, April.
  6. Krugman, Paul, 1991. "History versus Expectations," The Quarterly Journal of Economics, MIT Press, vol. 106(2), pages 651-67, May.
  7. Larry Samuelson & Arthur J. Robson, 2007. "The Evolution of Intertemporal Preferences," American Economic Review, American Economic Association, vol. 97(2), pages 496-500, May.
  8. Bisin, Alberto & Verdier, Thierry, 2001. "Agents with imperfect empathy may survive natural selection," Economics Letters, Elsevier, vol. 71(2), pages 277-285, May.
  9. Arthur J. Robson, 2001. "The Biological Basis of Economic Behavior," Journal of Economic Literature, American Economic Association, vol. 39(1), pages 11-33, March.
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