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The Economics of Cultural Formation of Preferences

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  • Michael M. Pichler

    (Institute of Mathematical Economics, Bielefeld University)

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    Abstract

    This 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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    File URL: http://www.imw.uni-bielefeld.de/papers/files/imw-wp-431.pdf
    File Function: First version, 2010
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    Bibliographic Info

    Paper provided by Bielefeld University, Center for Mathematical Economics in its series Working Papers with number 431.

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    Length: 33 pages
    Date of creation: Apr 2010
    Date of revision:
    Handle: RePEc:bie:wpaper:431

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    Web page: http://www.imw.uni-bielefeld.de/
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    Related research

    Keywords: Socialization; Preference Evolution; Endogenous Preferences; Cultural transmission;

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    References

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    1. Olcina, Gonzalo & Penarrubia, Concepcion, 2004. "Hold up and intergenerational transmission of preferences," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 54(1), pages 111-132, May.
    2. Pollak, Robert A, 1976. "Interdependent Preferences," American Economic Review, American Economic Association, American Economic Association, vol. 66(3), pages 309-20, June.
    3. Samuel Bowles, 1998. "Endogenous Preferences: The Cultural Consequences of Markets and Other Economic Institutions," Journal of Economic Literature, American Economic Association, American Economic Association, vol. 36(1), pages 75-111, March.
    4. Bruce Sacerdote, 2007. "How Large Are the Effects from Changes in Family Environment? A Study of Korean American Adoptees," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 122(1), pages 119-157, 02.
    5. Oded Galor & Omer Moav, 2002. "Natural Selection And The Origin Of Economic Growth," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 117(4), pages 1133-1191, November.
    6. Mozaffar Qizilbash, 2009. "Well-Being, Preference Formation and the Danger of Paternalism," Papers on Economics and Evolution 2009-18, Philipps University Marburg, Department of Geography.
    7. Alberto Bisin & Giorgio Topa & Thierry Verdier, 2009. "Cultural transmission, socialization and the population dynamics of multiple-trait distributions," International Journal of Economic Theory, The International Society for Economic Theory, The International Society for Economic Theory, vol. 5(1), pages 139-154.
    8. Hauk, Esther & Sáez-Martí, María, 2001. "On the Cultural Transmission of Corruption," Working Paper Series, Research Institute of Industrial Economics 564, Research Institute of Industrial Economics.
    9. Jan K. Brueckner & Oleg Smirnov, 2007. "Workings Of The Melting Pot: Social Networks And The Evolution Of Population Attributes," Journal of Regional Science, Wiley Blackwell, Wiley Blackwell, vol. 47(2), pages 209-228.
    10. Peter M. Demarzo & Dimitri Vayanos & Jeffrey Zwiebel, 2003. "Persuasion Bias, Social Influence, And Unidimensional Opinions," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 118(3), pages 909-968, August.
    11. Bisin, A. & Verdier, T., 1999. "A model of cultural transmission, voting and political ideology," DELTA Working Papers, DELTA (Ecole normale supérieure) 1999-13, DELTA (Ecole normale supérieure).
    12. Kockesen, Levent & Ok, Efe A. & Sethi, Rajiv, 2000. "The Strategic Advantage of Negatively Interdependent Preferences," Journal of Economic Theory, Elsevier, Elsevier, vol. 92(2), pages 274-299, June.
    13. Fershtman, C. & Weiss, Y., 1996. "Social Rewards, Externalities and Stable preferences," Discussion Paper, Tilburg University, Center for Economic Research 1996-28, Tilburg University, Center for Economic Research.
    14. Bisin, Alberto & Verdier, Thierry, 2001. "The Economics of Cultural Transmission and the Dynamics of Preferences," Journal of Economic Theory, Elsevier, Elsevier, vol. 97(2), pages 298-319, April.
    15. Bester, Helmut & Guth, Werner, 1998. "Is altruism evolutionarily stable?," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 34(2), pages 193-209, February.
    16. Bruce Sacerdote, 2000. "The Nature and Nurture of Economic Outcomes," NBER Working Papers 7949, National Bureau of Economic Research, Inc.
    17. Bisin, A. & Verdier, T., 1997. "On the Cultural Transmission of Preferences for Social Status," DELTA Working Papers, DELTA (Ecole normale supérieure) 97-04, DELTA (Ecole normale supérieure).
    18. Luisa Escriche & Gonzalo Olcina & Rosario Sánchez, 2004. "Gender discrimination and intergenerational transmission of preferences," Oxford Economic Papers, Oxford University Press, vol. 56(3), pages 485-511, July.
    19. Jan K. Brueckner & Oleg Smirnov, 2008. "Social Networks And The Convergence Of Population Attributes: A Generalization," Journal of Regional Science, Wiley Blackwell, Wiley Blackwell, vol. 48(2), pages 359-365.
    20. Rath, Kali P, 1992. "A Direct Proof of the Existence of Pure Strategy Equilibria in Games with a Continuum of Players," Economic Theory, Springer, Springer, vol. 2(3), pages 427-33, July.
    21. Alberto Bisin & Giorgio Topa, 2003. "Empirical Models of Cultural Transmission," Journal of the European Economic Association, MIT Press, MIT Press, vol. 1(2-3), pages 363-375, 04/05.
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    Cited by:
    1. Cerqueti, Roy & Correani, Luca & Garofalo, Giuseppe, 2013. "Economic interactions and social tolerance: A dynamic perspective," Economics Letters, Elsevier, Elsevier, vol. 120(3), pages 458-463.
    2. Alberto Bisin & Thierry Verdier, 2010. "The Economics of Cultural Transmission and Socialization," NBER Working Papers 16512, National Bureau of Economic Research, Inc.

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