Relational goods, private consumption and social poverty traps in an evolutionary game
We investigate how the patterns of consumption and accumulation, as well as the patterns of time allocation and of social interaction, may be influenced by social pressure, i.e., by the choices of others. We display an evolutionary model involving several generations of interacting individuals,in which different patterns may coexist in equilibrium and in which path dependence and critical mass effects play an important role. Bomze's (1983) classification is used to study the properties of this game. We find that social pressure may lead to low welfare traps' with overwork and overconsumption, and that policy may have a role as a coordination device
|Date of creation:||13 Dec 2005|
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5-2004, Associazione Italiana per la Cultura della Cooperazione e del Non Profit.
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- Alberto Alesina & Eliana La Ferrara, 2000. "Participation in Heterogeneous Communities," The Quarterly Journal of Economics, Oxford University Press, vol. 115(3), pages 847-904.
- Angelo Antoci & Stefano Bartolini, 1997. "Externalities and Growth in an Evolutionary Game," Department of Economics Working Papers 9710, Department of Economics, University of Trento, Italia.
- Schiff, Maurice, 2002. "Love thy neighbor: trade, migration, and social capital," European Journal of Political Economy, Elsevier, vol. 18(1), pages 87-107, March.
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