Interdependent preferences and segregating equilibria
نویسندگان
چکیده
منابع مشابه
Interdependent preferences and segregating equilibria
This paper shows that models where preferences of individuals depend not only on their allocations, but also on the well being of other persons, can produce both large and testable effects. We study the allocation of workers with heterogeneous productivities to firms. We show that even small deviations from purely “selfish” preferences leads to widespread workplace skill segregation. That is, w...
متن کاملInterdependent Preferences and Reciprocity
392 ∗ Sobel: University of California, San Diego. I presented a version of this paper at the First World Congress of the Game Theory Society and to my colleagues at the Center for Advanced Study in the Behavioral Sciences. I thank Eli Berman, Antonio Cabrales, Miguel CostaGomes, Vincent Crawford, David M. Kreps, Herbert Gintis, Mark Machina, Efe Ok, Luís Pinto, Matthew Rabin, Paul Romer, Klaus ...
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We develop a theory of representation of interdependent preferences that re ̄ect the widely acknowledged phenomenon of keeping up with the Joneses (i.e. of those preferences which maintain that well-being depend on ``relative standing'' in the society as well as on material consumption). The principal ingredient of our analysis is the assumption that individuals desire to occupy a (subjectively)...
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ژورنال
عنوان ژورنال: Journal of Economic Theory
سال: 2008
ISSN: 0022-0531
DOI: 10.1016/j.jet.2007.08.003