Modeling the evolution of preferences: an answer to Schubert and Cordes

Jakob Kapeller and Stefan Steinerberger

Journal of Institutional Economics, 2014, vol. 10, issue 2, 337-347

Abstract: We applaud the effort of Schubert and Cordes (2013, this journal) to contribute a model describing the social mediation of preferences and to apply their results to the more general context of economic welfare. Although we consider this topic to be of utmost importance and interest, we have found a problem in Schubert and Cordes’ argument that renders their statements in Section 3 invalid. After providing some basic intuition on the problem at hand, we present a short proof showing that the assumptions of the model always lead to a stable society. We also report on an interesting non-linear segregation effect that can occur within the Schubert-Cordes model.

Date: 2014
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