On the Evolution of Preferences
AbstractA common feature of the literature on the evolution of preferences is that evolution favors nonmaterialistic preferences only if preference types are observable at least to some degree. We argue that this result is due to the assumption that in each state of the evolutionary dynamics some Bayesian Nash equilibrium is played. We show that under unobservability of preference types, conditional on selecting some self-confirming equilibrium as a rule for mapping preference into behavior, non-selfish preferences may be evolutionarily successful.
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Bibliographic InfoPaper provided by Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics in its series Jena Economic Research Papers with number 2011-032.
Date of creation: 04 Jul 2011
Date of revision:
evolution of preferences; altruism; learning; self-confirming equilibrium;
Find related papers by JEL classification:
- A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- D64 - Microeconomics - - Welfare Economics - - - Altruism; Philanthropy
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-07-21 (All new papers)
- NEP-CBE-2011-07-21 (Cognitive & Behavioural Economics)
- NEP-EDU-2011-07-21 (Education)
- NEP-EVO-2011-07-21 (Evolutionary Economics)
- NEP-GTH-2011-07-21 (Game Theory)
- NEP-HME-2011-07-21 (Heterodox Microeconomics)
- NEP-HPE-2011-07-21 (History & Philosophy of Economics)
- NEP-UPT-2011-07-21 (Utility Models & Prospect Theory)
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