A Theory of Endogenous Sentiments
We introduce a model in which agents' sentiments toward others are determined endogenously on the basis of how they perform relative to a standard of appropriate behavior. As sentiments change, so too does the optimal behavior of each individual, which in turn affects other agents' sentiments toward them. We focus on fixed points of this reciprocal adjustment process. To demonstrate the potential use and implications of such a model, we present an extended example involving team production. We consider various standards of behavior, and we examine stationary patterns of behavior and sentiments under each.
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|Date of creation:||2002|
|Date of revision:|
|Contact details of provider:|| Postal: Department of Economics, BA 110 University at Albany State University of New York Albany, NY 12222 U.S.A.|
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"A Theory of Sequential Reciprocity,"
Levine's Working Paper Archive
563824000000000090, David K. Levine.
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33-02 Classification-JEL , Instituto de Estudios Fiscales.
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- Joan Esteban & Laurence Kranich, 2003. "Redistributive Taxation with Endogenous Sentiments," Levine's Working Paper Archive 666156000000000007, David K. Levine.
- Joan M. Esteban & Laurence Kranich, 2002. "Redistributive Taxation with Endogenous Sentiments," UFAE and IAE Working Papers 529.02, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- Matteo Cervellati & Joan-Maria Esteban & Laurence Kranich, 2005. "Redistributive Taxation with Endogenous Sentiments," Working Papers 254, Barcelona Graduate School of Economics.
- Sethi, Rajiv & Somanathan, E., 2001.
"Preference Evolution and Reciprocity,"
Journal of Economic Theory,
Elsevier, vol. 97(2), pages 273-297, April.
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