Have Preferences Become More Similar Worldwide?

Rainer Kotschy and Uwe Sunde
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Uwe Sunde: LMU Munich

No 436, Rationality and Competition Discussion Paper Series from CRC TRR 190 Rationality and Competition

Abstract: Recent evidence shows substantial heterogeneity in time, risk, and social preferences across and within populations; yet little is known about the dynamics of preference heterogeneity across generations. We apply a novel identification strategy based on dyadic differences in preferences using representative data for 80,000 individuals from 76 countries. Our results document that, among more recent birth cohorts, preferences are more similar across countries and gender gaps in preferences are smaller within countries. This decline in preference heterogeneity across cohorts relates to country-specific differences in preference endowments, population composition, and socioeconomic conditions during formative years, and points at global cultural convergence.

Keywords: cohort effects; patience; willingness to take risks (search for similar items in EconPapers)
JEL-codes: D01 J10 J11 (search for similar items in EconPapers)
Date: 2023-10-23
New Economics Papers: this item is included in nep-dem and nep-evo
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Related works:
Working Paper: Have Preferences Become More Similar Worldwide? (2023)
Working Paper: Have Preferences Become More Similar Worldwide? (2023)
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Persistent link: https://EconPapers.repec.org/RePEc:rco:dpaper:436

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