Endogenous evolution of heterogeneous consumers preferences: Multistability and coexistence between groups

Ahmad Naimzada and Marina Pireddu

Economics Letters, 2016, vol. 142, issue C, 22-26

Abstract: We propose an exchange economy evolutionary model with agents heterogeneous in the structure of preferences. Assuming that the share updating mechanism is non-monotone in the calorie intake, we find multistability phenomena involving equilibria characterized by the coexistence of heterogeneous agents.

Keywords: Endogenous preferences; Evolution; Multistability; Coexistence (search for similar items in EconPapers)
JEL-codes: B52 C62 D00 D11 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:142:y:2016:i:c:p:22-26

DOI: 10.1016/j.econlet.2016.02.018

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