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Modeling the evolution of preferences: an answer to Schubert and Cordes

  • JAKOB KAPELLER (a1) and STEFAN STEINERBERGER (a2)
Abstract
Abstract:

We applaud the effort of Schubert and Cordes (2013, this journal) to contribute a model describing the social mediation of preferences and to apply their results to the more general context of economic welfare. Although we consider this topic to be of utmost importance and interest, we have found a problem in Schubert and Cordes’ argument that renders their statements in Section 3 invalid. After providing some basic intuition on the problem at hand, we present a short proof showing that the assumptions of the model always lead to a stable society. We also report on an interesting non-linear segregation effect that can occur within the Schubert-Cordes model.

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Corresponding author
*Email: jakob.kapeller@jku.at
**Email: stefan.steinerberger@gmail.com
Linked references
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This list contains references from the content that can be linked to their source. For a full set of references and notes please see the PDF or HTML where available.

F. Chung (1997), Spectral Graph Theory (CBMS Regional Conference Series in Mathematics, 92), Providence, RI: American Mathematical Society.

M. A. Hogg and D. J. Terry (2000), ‘Social Identity and Self-Categorization Process in Organizational Contexts’, Academy of Management Review, 25 (1): 121140.

D. Kahnemann (2003), ‘Maps of Bounded Rationality: Psychology for Behavioral Economics’, American Economic Review, 93 (5): 14491475.

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Journal of Institutional Economics
  • ISSN: 1744-1374
  • EISSN: 1744-1382
  • URL: /core/journals/journal-of-institutional-economics
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