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Stochastic Value Formation

Author

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  • Jiabin Wu

    (University of Oregon)

Abstract

We propose a simple model of value formation in two societies (communities). When forming values, individuals face conformity pressure within their own society and they are intolerant toward the other society. When such a value formation process is noisy, the interaction between conformity, intolerance and noise can give rise to interesting dynamic outcomes including two polarized societies and polarization across the two societies.

Suggested Citation

  • Jiabin Wu, 2021. "Stochastic Value Formation," Dynamic Games and Applications, Springer, vol. 11(3), pages 597-611, September.
    • Handle: RePEc:spr:dyngam:v:11:y:2021:i:3:d:10.1007_s13235-020-00370-z
    DOI: 10.1007/s13235-020-00370-z
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    More about this item

    Keywords

    Value formation; Identities; Conformity; Intolerance; Evolutionary game theory;
    All these keywords.

    JEL classification:

    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
    • Z10 - Other Special Topics - - Cultural Economics - - - General

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