The populations of many countries in the world are becoming more culturally diverse. This spurs a growing need for an informed debate on the socio-economic implications of cultural diversity. This book offers a solid statistical and econometric perspective on this topical subject by bringing...

We consider an OLG model (of a socialization process) where continuous traits are transmitted from an adult generation to the children. A weighted social network describes how children are influenced not only by their parents but also by other role models within the society. Parents can invest...