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The economics of cultural transmission and the dynamics of preferences

Verdier, Thierry and Bisin, Alberto (2001) The economics of cultural transmission and the dynamics of preferences Journal of Economic Theory, 97, (2), pp. 298-319. (doi:10.1006/jeth.2000.2678).

Record type: Article

Abstract

This paper studies the population dynamics of preference traits in a model of intergenerational cultural transmission. Parents socialize and transmit their preferences to their offspring, motivated by a form of paternalistic altruism ("imperfect empathy"). In such a setting we study the long run stationary state pattern of preferences in the population, according to various socialization mechanisms and institutions, and identify sufficient conditions for the global stability of an heterogenous stationary distribution of the preference traits. We show that cultural transmission mechanisms have very different implications than evolutionary selection mechanisms with respect to the dynamics of the distribution of the traits in the population, and we study mechanisms which interact evolutionary selection and cultural transmission.

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Published date: 2001

Identifiers

Local EPrints ID: 33480
URI: http://eprints.soton.ac.uk/id/eprint/33480
ISSN: 0022-0531
PURE UUID: e7a63308-2751-438d-8f0a-d7d86a738454

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Date deposited: 16 May 2006
Last modified: 17 Jul 2017 15:52

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Contributors

Author: Thierry Verdier
Author: Alberto Bisin

University divisions

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