The dynamics of continuous cultural traits in social networks

@article{Buechel2014TheDO,
  title={The dynamics of continuous cultural traits in social networks},
  author={Berno Buechel and Tim Hellmann and Michael M. Pichler},
  journal={J. Economic Theory},
  year={2014},
  volume={154},
  pages={274-309}
}
We consider an overlapping generations model where continuous cultural 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 into the purposeful socialization of their children by strategically displaying a cultural trait (which need not coincide with their true cultural trait). We observe a cultural substitution effect when… CONTINUE READING

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