Evolution of Preferences<xref ref-type="fn" rid="FN1">-super-1</xref>

S-Tier
Journal: Review of Economic Studies
Year: 2007
Volume: 74
Issue: 3
Pages: 685-704

Score contribution per author:

2.681 = (α=2.01 / 3 authors) × 4.0x S-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We endogenize preferences using the &#x201C;indirect evolutionary approach&#x201D;. Individuals are randomly matched to play a two-person game. Individual (subjective) preferences determine their behaviour and may differ from the actual (objective) pay-offs that determine fitness. Matched individuals may observe the opponents' preferences perfectly, not at all, or with some in-between probability. When preferences are observable, a stable outcome must be efficient. When they are not observable, a stable outcome must be a Nash equilibrium and all strict equilibria are stable. We show that, for pure-strategy outcomes, these conclusions are robust to allowing almost perfect, and almost no, observability, with the notable exception that inefficient strict equilibria may fail to be stable with any arbitrarily small degree of observability (despite being stable with no observability). Copyright 2007, Wiley-Blackwell.

Technical Details

RePEc Handle
repec:oup:restud:v:74:y:2007:i:3:p:685-704
Journal Field
General
Author Count
3
Added to Database
2026-01-25