Relational goods, private consumption and social poverty traps in an evolutionary game

Angelo Antoci, Paolo Russu () and Paolo Vanin

No 25-2005, AICCON Working Papers from Associazione Italiana per la Cultura della Cooperazione e del Non Profit

Abstract: We investigate how the patterns of consumption and accumulation, as well as the patterns of time allocation and of social interaction, may be influenced by social pressure, i.e., by the choices of others. We display an evolutionary model involving several generations of interacting individuals,in which different patterns may coexist in equilibrium and in which path dependence and critical mass effects play an important role. Bomze's (1983) classification is used to study the properties of this game. We find that social pressure may lead to low welfare traps' with overwork and overconsumption, and that policy may have a role as a coordination device

Keywords: Social interaction; Relational goods; Coordination failure (search for similar items in EconPapers)
JEL-codes: B52 D62 E21 J22 Z13 (search for similar items in EconPapers)
Pages: 21 pages
Date: 2005-12-13
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