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The economics of cultural formation of preferences

  • Pichler, Michael

    (Center for Mathematical Economics, Bielefeld University)

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    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: https://pub.uni-bielefeld.de/download/2316455/2319872
    File Function: First Version, 2010
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    Paper provided by Center for Mathematical Economics, Bielefeld University in its series Center for Mathematical Economics Working Papers with number 431.

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    Date of creation: 16 Aug 2011
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    Handle: RePEc:bie:wpaper:431
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