کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
883879 | 912358 | 2012 | 8 صفحه PDF | دانلود رایگان |
This paper shows how market exposure can support the evolution of non-individualistic preferences. In a group, one agent is randomly selected to divide an exogenous endowment. Endowment shares are used for either consumption or market exchange with external merchants. As a more equal endowment distribution attenuates the scope of merchants’ price discrimination, we argue that inequity-averse preferences may lead to a higher utility of consumption and so survive evolutionary pressures. This effect arises from an opportunity to create and extract information rents. We offer a new explanation to the empirical finding that a society's exposure to markets has a positive effect on its members’ sociality.
► Market exposure can favor the evolution of inequity-averse preferences.
► The effect stems from an opportunity to obtain information rents.
► We offer a new explanation to more sociality observed in market-integrated societies.
► We predict a positive relationship between market concentration and sociality.
Journal: Journal of Economic Behavior & Organization - Volume 84, Issue 1, September 2012, Pages 174–181