Evolution of preferences in an exchange economy

Jannet Chang*, Ronald Stauber

*Corresponding author for this work

    Research output: Contribution to journalArticlepeer-review

    9 Citations (Scopus)

    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.

    Original languageEnglish
    Pages (from-to)131-134
    Number of pages4
    JournalEconomics Letters
    Volume103
    Issue number3
    DOIs
    Publication statusPublished - Jun 2009

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