The Dynamic Evolution of Preferences

Aviad Heifetz, Chris Shannon () and Yossi Spiegel

No 1415, Discussion Papers from Northwestern University, Center for Mathematical Studies in Economics and Management Science

Abstract: This paper develops a general methodology for characterizing the dynamic evolution of preferences in a wide class of strategic interactions. We give simple conditions characterizing the limiting distribution of preferences in general games, and apply our results to study the evolutionary emergence of overconfidence and interdependent preferences. We also show that this methodology can be adapted to cases where preferences are only imperfectly observed.

Keywords: dispositions; evolution of preferences; selection dynamics; perception biases; interdependent preferences; imperfect observability (search for similar items in EconPapers)
Date: 2005-10
New Economics Papers: this item is included in nep-evo and nep-upt
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Citations: View citations in EconPapers (2)

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Journal Article: The Dynamic Evolution of Preferences (2007)
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