Endogenous evolution of heterogeneous consumers preferences: Multistability and coexistence between groups

摘要

We propose an exchange economy evolutionary model with agents heterogeneous in the structure of preferences. Assuming that the share updating mechanism is non-monotone in the calorie intake, we find multistability phenomena involving equilibria characterized by the coexistence of heterogeneous agents. (c) 2016 Elsevier B.V. All rights reserved.