Merit, approbation and the evolution of social structure
AbstractWe examine a society in which individuals gain utility from income and social approbation. Approbation is given to an unobservable trait, signalled through social mobility. Two environments are studied: in one players care for absolute approbation; in the other relative approbation matters. In both environments, individuals' quest for approbation both affects and is affected by social structure. We study the long run implications of that interaction on social organization. Various forms of dynasties and meritocracies are possible. Even though social mobility is driven purely by meritocratic principles, pure dynasties can emerge.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Behavior & Organization.
Volume (Year): 64 (2007)
Issue (Month): 3-4 ()
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Web page: http://www.elsevier.com/locate/jebo
Approbation Social status Interest rate rule Intergenerational mobility;
Other versions of this item:
- Cowan ,Robin & Jonard ,Nicolas, 2005. "Merit, Approbation and the Evolution of Social Structure," Research Memoranda 026, Maastricht : MERIT, Maastricht Economic Research Institute on Innovation and Technology.
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