Class systems and the enforcement of social norms
AbstractWe analyze a model in which there is socially inefficient competition among people. In this model, self-enforcing social norms can potentially control the inefficient competition. However, the inefficient behavior often cannot be suppressed in equilibrium among those with the lowest income due to the ineffectiveness of sanctions against those in the society with the least to lose. We demonstrate that in such cases, it may be possible for society to be divided into distinct classes, with inefficient behavior suppressed in the upper classes but not in the lower.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Public Economics.
Volume (Year): 70 (1998)
Issue (Month): 1 (October)
Contact details of provider:
Web page: http://www.elsevier.com/locate/inca/505578
Other versions of this item:
- Harold L. Cole & George J. Mailath & Andrew Postlewaite, . ""Class Systems and the Enforcement of Social Norms''," CARESS Working Papres 96-04, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences.
- Harold L. Cole & George J. Mailath & Andrew Postlewaite, . "Class Systems and the Enforcement of Social Norms," Penn CARESS Working Papers bdb2c3969ad56e98068513c7c, Penn Economics Department.
- Harold L. Cole & George J. Mailath & Andrew Postlewaite, 1996. "Class systems and the enforcement of social norms," Staff Report 213, Federal Reserve Bank of Minneapolis.
Please 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.:
- Mailath, George J, 1987. "Incentive Compatibility in Signaling Games with a Continuum of Types," Econometrica, Econometric Society, vol. 55(6), pages 1349-65, November.
- Harold L. Cole & George J. Mailath & Andrew Postlewaite, .
""Incorporating Concern for Relative Wealth into Economic Models'',"
CARESS Working Papres
95-14, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences.
- Harold L. Cole & George J. Mailath & Andrew Postlewaite, 1995. "Incorporating concern for relative wealth into economic models," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Sum, pages 12-21.
- Drew Fudenberg & David K. Levine, 1986.
"Limit Games and Limit Equilibria,"
Levine's Working Paper Archive
220, David K. Levine.
- Benoit, Jean-Pierre & Krishna, Vijay, 1985. "Finitely Repeated Games," Econometrica, Econometric Society, vol. 53(4), pages 905-22, July.
- Friedman, James W., 1985. "Cooperative equilibria in finite horizon noncooperative supergames," Journal of Economic Theory, Elsevier, vol. 35(2), pages 390-398, August.
- Cole, Harold L & Mailath, George J & Postlewaite, Andrew, 1995. "Aristocratic Equilibria: Response," Journal of Political Economy, University of Chicago Press, vol. 103(2), pages 439-43, April.
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