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Competition And Culture In The Evolution Of Economic Behavior: A Simple Example

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  • Fernando Vega Redondo

    (Instituto Valenciano de Investigaciones Económicas)

Abstract

Competition tends to promote efficient (equilibrium) behavior through the higher survival of the organizations (say firms) that adopt it. On the other hand, culture (understood as the "inherited" social pattern of behavior) may induce certain short-run inertias. This paper analyzes a dynamic model of the struggle between these two forces in the evolution of alternative stable configurations of an economy's behavior.

Suggested Citation

  • Fernando Vega Redondo, 1991. "Competition And Culture In The Evolution Of Economic Behavior: A Simple Example," Working Papers. Serie AD 1991-08, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    • Handle: RePEc:ivi:wpasad:1991-08
    as

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    File URL: http://www.ivie.es/downloads/docs/wpasad/wpasad-1991-08.pdf
    File Function: Fisrt version / Primera version, 1991
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    References listed on IDEAS

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