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On the coexistence of reciprocity and materialism

Author

Listed:
  • Akiko Maruyama

    (Graduate School of Economics, Kwansei Gakuin University)

Abstract

This paper studies the problem of the long-run preferences distribution in a large population using an evolutionary approach. Special attention is given to the investigation of the property of the mixed population equilibria, in which materialists and reciprocators coexist. Some of the players with reciprocal preference care about not only their own material payoffs but also about those of others, while the remaining ones are materialists who maximize their own material payoffs.

Suggested Citation

  • Akiko Maruyama, 2007. "On the coexistence of reciprocity and materialism," Economics Bulletin, AccessEcon, vol. 3(59), pages 1-9.
    • Handle: RePEc:ebl:ecbull:eb-07c70011
    as

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    References listed on IDEAS

    as
    1. Sethi, Rajiv & Somanathan, E., 2001. "Preference Evolution and Reciprocity," Journal of Economic Theory, Elsevier, vol. 97(2), pages 273-297, April.
    2. Levent Kockesen & Efe A. Ok & Rajiv Sethi, 1997. "Interdependent Preference Formation," Game Theory and Information 9708002, University Library of Munich, Germany.
    3. Axel Ockenfels & Gary E. Bolton, 2000. "ERC: A Theory of Equity, Reciprocity, and Competition," American Economic Review, American Economic Association, vol. 90(1), pages 166-193, March.
    4. David K. Levine, 1998. "Modeling Altruism and Spitefulness in Experiment," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 1(3), pages 593-622, July.
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    More about this item

    Keywords

    Evolution;

    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D6 - Microeconomics - - Welfare Economics

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