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The Role of Biology and Culture in Veblenian Consumption Dynamics

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  • Christian Cordes

Abstract

This paper incorporates aspects of humans' evolved cognition into a formal model of cultural evolution and scrutinizes their interactions with population-level processes. It is shown how the biased transmission of different kinds of behavior via cultural learning processes influences agents' consumption behavior. Thereby, the model's learning dynamics are capable of generating typical Veblenian consumption dynamics. Based on these insights, the paper then scrutinizes the role of humans' biological heritage and Darwinian concepts in the development of economic theories in general. Moreover, the relation of the ontological basis of biological and cultural evolution is addressed.

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  • Christian Cordes, 2009. "The Role of Biology and Culture in Veblenian Consumption Dynamics," Journal of Economic Issues, Taylor & Francis Journals, vol. 43(1), pages 115-142.
    • Handle: RePEc:mes:jeciss:v:43:y:2009:i:1:p:115-142
    DOI: 10.2753/JEI0021-3624430106
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    Cited by:

    1. Vaios Koliofotis, 2022. "Sexual selection of conspicuous consumption," Journal of Evolutionary Economics, Springer, vol. 32(2), pages 531-552, April.
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    3. Christian Schubert, 2014. "“Generalized Darwinism” and the quest for an evolutionary theory of policy-making," Journal of Evolutionary Economics, Springer, vol. 24(3), pages 479-513, July.
    4. Christian Schubert, 2009. "Darwinism in Economics and the Evolutionary Theory of Policy-Making," Papers on Economics and Evolution 2009-10, Philipps University Marburg, Department of Geography.

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    More about this item

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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