The economics of cultural formation of preferences

Michael Pichler
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Michael Pichler: Center for Mathematical Economics, Bielefeld University

No 431, Center for Mathematical Economics Working Papers from Center for Mathematical Economics, Bielefeld University

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.

Keywords: Socialization; Endogenous preferences; Cultural transmission; Preference evolution (search for similar items in EconPapers)
Date: 2011-08-16
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Citations: View citations in EconPapers (3)

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https://pub.uni-bielefeld.de/download/2316455/2319872 First Version, 2010 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:bie:wpaper:431

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