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The Role of Biology and Culture in Veblenian Consumption Dynamics

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Author Info
Christian Cordes

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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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Publisher Info
Article provided by Inderscience Enterprises Ltd in its journal Journal of Economic Issues.

Volume (Year): XLIII (2009)
Issue (Month): 1 (March)
Pages: 115-142
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:mes:jeciss:v:xliii:y:2009:i:1:p:115-142

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Web page: http://mesharpe.metapress.com/link.asp?target=journal&id=121382

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Related research
Keywords: conspicuous consumption; economic theory development; evolutionary economics; Darwinism; cultural evolution;

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References listed on IDEAS
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.:
  1. Thorbj, rn Knudsen, 2002. "Economic selection theory," Journal of Evolutionary Economics, Springer, vol. 12(4), pages 443-470. [Downloadable!] (restricted)
  2. Rubin, Paul H., 1982. "Evolved ethics and efficient ethics," Journal of Economic Behavior & Organization, Elsevier, vol. 3(2-3), pages 161-174. [Downloadable!] (restricted)
  3. Markus C. Becker & Nathalie Lazaric & Richard R. Nelson & Sidney G. Winter, 2005. "Applying organizational routines in understanding organizational change," Industrial and Corporate Change, Oxford University Press, vol. 14(5), pages 775-791, October.
  4. Jack Vromen, 2004. "Conjectural revisionary economic ontology: Outline of an ambitious research agenda for evolutionary economics," Journal of Economic Methodology, Taylor and Francis Journals, vol. 11(2), pages 213-247, June. [Downloadable!] (restricted)
  5. Geoffrey M. Hodgson, 2002. "Darwinism in economics: from analogy to ontology," Journal of Evolutionary Economics, Springer, vol. 12(3), pages 259-281. [Downloadable!] (restricted)
  6. Ernst Fehr & Klaus M. Schmidt, 1999. "A Theory Of Fairness, Competition, And Cooperation," The Quarterly Journal of Economics, MIT Press, vol. 114(3), pages 817-868, August. [Downloadable!] (restricted)
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  7. Joseph E. Harrington & Jr., 1999. "Rigidity of Social Systems," Journal of Political Economy, University of Chicago Press, vol. 107(1), pages 40-64, February. [Downloadable!] (restricted)
  8. Yew-Kwang Ng, 2003. "From preference to happiness: Towards a more complete welfare economics," Social Choice and Welfare, Springer, vol. 20(2), pages 307-350, March. [Downloadable!] (restricted)
  9. U. Witt, 2006. "Evolutionary Economics," Papers on Economics and Evolution 2006-05, Max Planck Institute of Economics, Evolutionary Economics Group.
  10. Hodgson, Geoffrey M. & Knudsen, Thorbjorn, 2006. "Why we need a generalized Darwinism, and why generalized Darwinism is not enough," Journal of Economic Behavior & Organization, Elsevier, vol. 61(1), pages 1-19, September. [Downloadable!] (restricted)
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Cited by:
(explanations, 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.)

  1. Christian Schubert, 2009. "Darwinism in Economics and the Evolutionary Theory of Policy-Making," Papers on Economics and Evolution 2009-10, Max Planck Institute of Economics, Evolutionary Economics Group. [Downloadable!]
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This page was last updated on 2009-11-13.

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