Stochastic Value Formation

Jiabin Wu ()

Dynamic Games and Applications, 2021, vol. 11, issue 3, No 8, 597-611

Abstract: Abstract We propose a simple model of value formation in two societies (communities). When forming values, individuals face conformity pressure within their own society and they are intolerant toward the other society. When such a value formation process is noisy, the interaction between conformity, intolerance and noise can give rise to interesting dynamic outcomes including two polarized societies and polarization across the two societies.

Keywords: Value formation; Identities; Conformity; Intolerance; Evolutionary game theory (search for similar items in EconPapers)
JEL-codes: C73 Z10 (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1007/s13235-020-00370-z

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