Overview

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.

Full Product Details

Author:   Andrew Schotter (New York University)
Publisher:   Cambridge University Press
Imprint:   Cambridge University Press
Dimensions:   Width: 15.10cm , Height: 2.50cm , Length: 22.80cm
Weight:   0.640kg
ISBN:  

9781009048880

ISBN 10:   1009048880
Pages:   250
Publication Date:   09 March 2023
Audience:   General/trade ,  General
Format:   Paperback
Publisher's Status:   Active
Availability:   Manufactured on demand  
We will order this item for you from a manufactured on demand supplier.

Table of Contents

1. Introduction; Part I. Background: 2. Advice; 3. Conventions, social learning, and Intergenerational games; Part II. Coordination, Distribution, and Trust Conventions: 4. On the evolution of co-ordination and inequality preserving conventions- -the battle of the sexes revisited; 5. Conventional behavior and bargaining – – advice and behavior in intergenerational; 6. Trust and trustworthiness; Part III. The Impact of Public Advice and Common Knowledge: 7. The impact of private and public advice in the minimum effort game; 8. Advice and common knowledge in the 2/3rd's guessing game: does advice increase strategic sophistication; Part IV. The Value of Advice: 9. Learning with the advice of a meddlesome boss; 10. Advice and social learning; 11. The market for advice; Part V. Advice and Economic Mechanisms: 12. Chatting and matching; 13. School matching and learning under the influence of intergenerational advice; 14. Conclusions.

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

Author Information

Andrew Schotter is Professor of Economics and Director of the Center for Experimental Social Science at New York University.

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