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https://hdl.handle.net/2142/85552
Description
Title
Essays on Political Economy
Author(s)
Chang, Jannet Kai-Jen
Issue Date
2004
Doctoral Committee Chair(s)
Stefan Krasa
Department of Study
Economics
Discipline
Economics
Degree Granting Institution
University of Illinois at Urbana-Champaign
Degree Name
Ph.D.
Degree Level
Dissertation
Keyword(s)
Economics, Theory
Language
eng
Abstract
Chapter Three explores how the economic environment may shape individual preferences, which are typically taken as exogenous when modeling individual behavior. Despite the fact that agents can trade at comparative prices, agents modify their preferences so that they favor the good that they are better at producing. This equilibrium is stable and unique subject to certain assumptions. Furthermore, in equilibrium, heterogenous preferences may coexist, as opposed to the monomorphic population assumption in the ESS (Evolutionarily Stable Strategy) concept.
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