Intergenerational transmission of preferences

E.H. Bulte, R.D. Horan

Research output: Contribution to journalArticleScientificpeer-review

6 Citations (Scopus)

Abstract

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”.
Original languageEnglish
Pages (from-to)85-87
JournalEconomics Letters
Volume112
Issue number1
Publication statusPublished - 2011

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