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A Theory of Endogenous Sentiments

Author

Listed:
  • Laurence Kranich
  • Joan Esteban

Abstract

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.

Suggested Citation

  • Laurence Kranich & Joan Esteban, 2002. "A Theory of Endogenous Sentiments," Discussion Papers 02-11, University at Albany, SUNY, Department of Economics.
    • Handle: RePEc:nya:albaec:02-11
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    Cited by:

    1. Joan Esteban & Laurence Kranich, "undated". "Redistributive Taxation With Endogenous Sentiments," Working Papers 33-02 Classification-JEL , Instituto de Estudios Fiscales.
    2. Alejandro Lugón Ceruti, 2018. "Altruism and Reciprocity in the Long-Run," Revista Economía, Fondo Editorial - Pontificia Universidad Católica del Perú, vol. 41(82), pages 157-188.
    3. Laurence Kranich & Matteo Cervellati & Joan Esteban, 2006. "The Social Contract with Endogenous Sentiments," Discussion Papers 06-06, University at Albany, SUNY, Department of Economics.

    More about this item

    JEL classification:

    • D64 - Microeconomics - - Welfare Economics - - - Altruism; Philanthropy; Intergenerational Transfers
    • D60 - Microeconomics - - Welfare Economics - - - General
    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values

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