Intergenerational transmission of preferences
We propose a perfect empathy model of cultural transmission to capture the evolution of preferences in a population. Unlike existing imperfect empathy models, focusing on stable interior equilibria, we demonstrate that a corner outcome will eventuate. However, which corner outcome emerges is unknown, and depends on the interplay of "history" and "expectations".
Year of publication: |
2011
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Authors: | Bulte, Erwin H. ; Horan, Richard D. |
Published in: |
Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 112.2011, 1, p. 85-87
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Publisher: |
Elsevier |
Keywords: | Endogenous preferences Transmission of preferences Evolving norms Dynamics of culture |
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