Conformity and out of equilibrium beliefs

Edward Cartwright

Journal of Economic Behavior & Organization, 2009, vol. 70, issue 1-2, 164-185

Abstract: We analyze a model of conformity with contrasting inferences. Given a form of 'strong inferences', any non-conforming agent is believed to have 'extreme preferences' and can expect to receive low esteem. With a weaker form of inferences, a non-conforming agent could be inferred to have 'average preferences' and can expect a smaller fall in esteem. We find that the type of inferences need not influence whether a conformist equilibrium exists. It will, however, impact on the size of the set of conformist equilibria and thus weakening inferences acts as an equilibrium selection device.

Keywords: Conformity; Social; norms; Out; of; equilibrium; beliefs; Signalling (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (5)

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Working Paper: Conformity and out of equilibrium beliefs (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jeborg:v:70:y:2009:i:1-2:p:164-185

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