Advice, Social Learning and the Evolution of Conventions

This book explores the dynamics of social conventions created by intergenerational advice, using game theory and experimental economics to investigate if new entrants listen and follow the advice of their elders or dismiss it.

Format: Paperback / softback
Length: 250 pages
Publication date: 09 March 2023
Publisher: Cambridge University Press

As societies evolve, the old generations of social agents gradually pass away, giving way to new ones. This captivating book delves into the intricate dynamics that unfold during this transformative transition, as the seasoned veterans impart their invaluable wisdom to the incoming newcomers. The central question that arises is whether these young individuals heed the guidance of their elders or dismiss it altogether. Does intergenerational advice serve as a means of promoting welfare and enhancing the stability of social conventions, or does it have the potential to be destructive? Furthermore, this study employs the concept of an Intergenerational Game, drawing upon the tools of game theory and experimental economics, to explore the intricate process of social learning that occurs through the transmission of intergenerational advice from one generation to the next. What emerges is a novel and groundbreaking theoretical and empirical exploration of the dynamics of social conventions that has not been offered elsewhere. Through meticulous research and analysis, this book sheds light on the complex interplay between generations, offering valuable insights into the forces that shape societies.

Weight: 638g
Dimension: 152 x 228 x 29 (mm)
ISBN-13: 9781009048880