Evolution of preferences in an exchange economy

Jannet Chang and Ronald Stauber

Economics Letters, 2009, vol. 103, issue 3, 131-134

Abstract: We propose an evolutionary theory of how economic environments shape individual preferences. Consumption is assumed to have both a standard utilitarian payoff, and a biological payoff which determines long-term survival. We show that heterogeneous preference types can co-exist in equilibrium.

Keywords: Endogenous; preferences; Evolution; Heterogeneity (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:103:y:2009:i:3:p:131-134

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