Conformity and out of equilibrium beliefs
Abstract
We analyze a model of conformity with contrasting inferences. Given a form of 'strong inferences', any non-conforming agent is believed to have 'extreme preferences' and can expect to receive low esteem. With a weaker form of inferences, a non-conforming agent could be inferred to have 'average preferences' and can expect a smaller fall in esteem. We find that the type of inferences need not influence whether a conformist equilibrium exists. It will, however, impact on the size of the set of conformist equilibria and thus weakening inferences acts as an equilibrium selection device.Download Info
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Bibliographic Info
Article provided by Elsevier in its journal Journal of Economic Behavior & Organization.
Volume (Year): 70 (2009)
Issue (Month): 1-2 (May)
Pages: 164-185
Contact details of provider:
Web page: http://www.elsevier.com/locate/jebo
Related research
Keywords: Conformity Social norms Out of equilibrium beliefs Signalling;References
References listed on IDEASPlease report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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