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  3. Advice, Social Learning and the Evolution of Conventions
  • Cited by 2
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    • Publisher:
      Cambridge University Press
      Publication date:
      March 2023
      March 2023
      ISBN:
      9781009049092
      9781316518076
      9781009048880
      DOI:
      https://doi.org/10.1017/9781009049092
      Dimensions:
      (235 x 155 mm)
      Weight & Pages:
      0.82kg, 440 Pages
      Dimensions:
      (228 x 151 mm)
      Weight & Pages:
      0.64kg, 440 Pages
      • Subjects:
      Economics, Microeconomics, Political Economy, Politics and International Relations
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    • Selected: Digital
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    Subjects:
    Economics, Microeconomics, Political Economy, Politics and International Relations
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    Book description

    As societies progress, old generations of social agents die and are replaced by new ones. This book explores what happens in this transition as the old guard instructs the new arrivals about the wisdom of their ways. Do new entrants listen and follow the advice of their elders or dismiss it? Is intergenerational advice welfare improving or can it be destructive? Does such advice enhance the stability of social conventions or disrupt it? Using the concept of an Intergenerational Game and the tools of game theory and experimental economics, this study delves into the process of social leaning created by intergenerational advice passed from generation to generation. This book presents a unique theoretical and empirical study of the dynamics of social conventions not offered elsewhere.

    Reviews

    ‘This book is written by one of the leading scholars in Experimental Economics. Dozens of doctoral students have been supervised in the ‘Andy Schotter School of Experimental Economics’ at NYU. After graduating, they join a worldwide network that is at the forefront of research in this field. Young researchers should treat this book as ADVICE on how to pursue a fulfilling academic career in Experimental Economics.’

    Ariel Rubinstein - Tel Aviv University and New York University

    ‘People usually communicate with others before making important choices. One form of communication is advice, particularly from trusted sources. A primary example is intergenerational advice, passed along from parents to children. Andrew Schotter is a pioneer regarding such advice in laboratory experiments. In this brilliant work, he describes how intergenerational advice plays out in a wide variety of environments. It is time for researchers to delve more deeply into this realm and this will help pave the way.’

    Gary Charness - University of California, Santa Barbara

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