The Economics of Cultural Transmission and the Dynamics of Preferences

@article{Bisin2001TheEO,
  title={The Economics of Cultural Transmission and the Dynamics of Preferences},
  author={Alberto Bisin and Thierry Verdier},
  journal={J. Econ. Theory},
  year={2001},
  volume={97},
  pages={298-319}
}
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… Expand
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