The Economics of Cultural Formation of Preferences
AbstractThis paper introduces a generalized representation of the formation of continuous preferences (which can reflect different intensities). The preference intensity that a child adopts is formed as the collective outcome of all role models for preference intensities - which are derived from the socioeconomic actions of adults - that it socially learns from. We then show how the adopted preference intensities induce preferences over socioeconomic choices. Finally, this cultural formation of preferences process is endogenized as resulting out of optimal parental socialization decisions. This framework thus endogenously determines the intergenerational evolution of preference intensities and the induced preferences.
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Bibliographic InfoPaper provided by Bielefeld University, Center for Mathematical Economics in its series Working Papers with number 431.
Length: 33 pages
Date of creation: Apr 2010
Date of revision:
Socialization; Preference Evolution; Endogenous Preferences; Cultural transmission;
Find related papers by JEL classification:
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- J13 - Labor and Demographic Economics - - Demographic Economics - - - Fertility; Family Planning; Child Care; Children; Youth
- Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Social and Economic Stratification
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