IDEAS home Printed from https://ideas.repec.org/a/eee/ecolet/v103y2009i3p131-134.html
   My bibliography  Save this article

Evolution of preferences in an exchange economy

Author

Listed:
  • Chang, Jannet
  • Stauber, Ronald

Abstract

We propose an evolutionary theory of how economic environments shape individual preferences. Consumption is assumed to have both a standard utilitarian payoff, and a biological payoff which determines long-term survival. We show that heterogeneous preference types can co-exist in equilibrium.

Suggested Citation

  • Chang, Jannet & Stauber, Ronald, 2009. "Evolution of preferences in an exchange economy," Economics Letters, Elsevier, vol. 103(3), pages 131-134, June.
    • Handle: RePEc:eee:ecolet:v:103:y:2009:i:3:p:131-134
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0165-1765(09)00077-9
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Oded Galor & Omer Moav, 2002. "Natural Selection and the Origin of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 117(4), pages 1133-1191.
    2. Samuelson, Larry, 2001. "Analogies, Adaptation, and Anomalies," Journal of Economic Theory, Elsevier, vol. 97(2), pages 320-366, April.
    3. Galor, Oded, 2005. "From Stagnation to Growth: Unified Growth Theory," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 4, pages 171-293, Elsevier.
    4. David N. Weil & Oded Galor, 2000. "Population, Technology, and Growth: From Malthusian Stagnation to the Demographic Transition and Beyond," American Economic Review, American Economic Association, vol. 90(4), pages 806-828, September.
    5. Ely, Jeffrey C. & Yilankaya, Okan, 2001. "Nash Equilibrium and the Evolution of Preferences," Journal of Economic Theory, Elsevier, vol. 97(2), pages 255-272, April.
    6. Ok, Efe A. & Vega-Redondo, Fernando, 2001. "On the Evolution of Individualistic Preferences: An Incomplete Information Scenario," Journal of Economic Theory, Elsevier, vol. 97(2), pages 231-254, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Naimzada, Ahmad & Pireddu, Marina, 2016. "Endogenous evolution of heterogeneous consumers preferences: Multistability and coexistence between groups," Economics Letters, Elsevier, vol. 142(C), pages 22-26.
    2. Naimzada, Ahmad & Pireddu, Marina, 2018. "An evolutive discrete exchange economy model with heterogeneous preferences," Chaos, Solitons & Fractals, Elsevier, vol. 111(C), pages 35-43.
    3. Edward Castronova, 2023. "Preference evolution, attention, and happiness," Kyklos, Wiley Blackwell, vol. 76(2), pages 301-315, May.
    4. Ahmad Naimzada & Marina Pireddu, 2019. "A general equilibrium evolutionary model with generic utility functions and generic bell-shaped attractiveness maps, generating fashion cycle dynamics," Working Papers 401, University of Milano-Bicocca, Department of Economics, revised Mar 2019.
    5. Ahmad Naimzada & Marina Pireddu, 2020. "A general equilibrium evolutionary model with two groups of agents, generating fashion cycle dynamics," Decisions in Economics and Finance, Springer;Associazione per la Matematica, vol. 43(1), pages 155-185, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Chakraborty, Shankha & Papageorgiou, Chris & Pérez Sebastián, Fidel, 2010. "Diseases, infection dynamics, and development," Journal of Monetary Economics, Elsevier, vol. 57(7), pages 859-872, October.
    2. Dietrich Vollrath, 2009. "The dual economy in long-run development," Journal of Economic Growth, Springer, vol. 14(4), pages 287-312, December.
    3. James Foreman-Peck & Peng Zhou, 2021. "Fertility versus productivity: a model of growth with evolutionary equilibria," Journal of Population Economics, Springer;European Society for Population Economics, vol. 34(3), pages 1073-1104, July.
    4. Gonçola Monteiro & Alvaro Pereira, 2006. "From Growth Spurts to Sustained Growth," Discussion Papers 06/24, Department of Economics, University of York.
    5. Nils‐Petter Lagerlöf & Thomas Tangerås, 2008. "From rent seeking to human capital: a model where resource shocks cause transitions from stagnation to growth," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 41(3), pages 760-780, August.
    6. Sascha Becker & Francesco Cinnirella & Ludger Woessmann, 2010. "The trade-off between fertility and education: evidence from before the demographic transition," Journal of Economic Growth, Springer, vol. 15(3), pages 177-204, September.
    7. Nguyen Thang Dao & Julio Dávila & Angela Greulich, 2021. "The education gender gap and the demographic transition in developing countries," Journal of Population Economics, Springer;European Society for Population Economics, vol. 34(2), pages 431-474, April.
    8. Galor, Oded & Klemp, Marc, 2014. "The Biocultural Origins of Human Capital Formation," IZA Discussion Papers 8433, Institute of Labor Economics (IZA).
    9. Strulik, Holger & Werner, Katharina, 2014. "Elite education, mass education, and the transition to modern growth," University of Göttingen Working Papers in Economics 205, University of Goettingen, Department of Economics.
    10. Francesco Cinnirella & Marc P. B. Klemp & Jacob L. Weisdorf, 2012. "Malthus in the Bedroom: Birth Spacing as a Preventive Check Mechanism in Pre-Modern England," CESifo Working Paper Series 3936, CESifo.
    11. Galindev, Ragchaasuren, 2008. "The Evolution of Population, Technology and Output," MPRA Paper 17116, University Library of Munich, Germany, revised 22 Aug 2009.
    12. Ralph Hippe & Joerg Baten, 2011. "Regional Inequality in Human Capital Formation in Europe, 1790 - 1880," Working Papers 11-07, Association Française de Cliométrie (AFC).
    13. Galor, Oded, 2007. "Multiple growth regimes - Insights from unified growth theory," Journal of Macroeconomics, Elsevier, vol. 29(3), pages 470-475, September.
    14. Lindner, Ines & Strulik, Holger, 2014. "The great divergence: A network approach," University of Göttingen Working Papers in Economics 193, University of Goettingen, Department of Economics.
    15. repec:got:cegedp:140 is not listed on IDEAS
    16. Broadberry Stephen, 2012. "Recent Developments in the Theory of Very Long Run Growth: A Historical Appraisal," Jahrbuch für Wirtschaftsgeschichte / Economic History Yearbook, De Gruyter, vol. 53(1), pages 277-306, May.
    17. Schäfer, Andreas & Prettner, Klaus, 2016. "The fall and rise of inequality," VfS Annual Conference 2016 (Augsburg): Demographic Change 145806, Verein für Socialpolitik / German Economic Association.
    18. Carl-Johan Dalgaard & Holger Strulik, 2015. "The physiological foundations of the wealth of nations," Journal of Economic Growth, Springer, vol. 20(1), pages 37-73, March.
    19. Dierk Herzer & Holger Strulik & Sebastian Vollmer, 2012. "The long-run determinants of fertility: one century of demographic change 1900–1999," Journal of Economic Growth, Springer, vol. 17(4), pages 357-385, December.
    20. Gonçalo Monteiro & Alvaro S. Pereira, 2006. "From Growth Spurts to Sustained Growth: The Nature of Growth and Unified Growth Theory," DEGIT Conference Papers c011_004, DEGIT, Dynamics, Economic Growth, and International Trade.
    21. Emmanuel Bovari & Victor Court, 2019. "Energy, knowledge, and demo-economic development in the long run: a unified growth model," Working Papers hal-01698755, HAL.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:ecolet:v:103:y:2009:i:3:p:131-134. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/ecolet .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.