European Business Schools Librarian's Group

Working Papers,
University of Aarhus, Aarhus School of Business, Department of Economics

No 01-3: Reciprocity, Materialism and Welfare: An Evolutionary Model

Anders Poulsen ()
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Anders Poulsen: Department of Economics, Aarhus School of Business, Postal: Prismet, Silkeborgvej 2, DK 8000 Aarhus C, Denmark

Abstract: This paper analyses preference evolution in a bargaining situation. We show

that preferences for reciprocity, that sustain a conflict-free outcome, are viable

if players have enough information about opponents’ preferences. However, depending

on the initial starting point, preference evolution can in general both

enhance or reduce subjective and material welfare, relative to the situation where

all players have the usual materialistic preferences.

Keywords: Preference evolution; Reciprocity; Altruism; Materialism; Subjective and material eciency; Bargaining; Indirect evolutionary approach

18 pages, March 19, 2001

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