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Title:The economics of cultural formation of preferences PDF Logo
Authors:Pichler, Michael M.
Issue Date:2010
Series/Report no.:Working papers // Institute of Mathematical Economics 431
Abstract:This paper introduces a generalized representation of the formation of continuous preferences (which can reflect different intensities). The preference intensity that a child adopts is formed as the collective outcome of all role models for preference intensities - which are derived from the socioeconomic actions of adults - that it socially learns from. We then show how the adopted preference intensities induce preferences over socioeconomic choices. Finally, this cultural formation of preferences process is endogenized as resulting out of optimal parental socialization decisions. This framework thus endogenously determines the intergenerational evolution of preference intensities and the induced preferences.
Preference Evolution
Endogenous Preferences
Cultural transmission
Persistent Identifier of the first edition:urn:nbn:de:hbz:361-16817
Document Type:Working Paper
Appears in Collections:Working Papers, Center for Mathematical Economics (IMW), Bielefeld University

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