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  • 3 - Conventions, Social Learning, and Intergenerational Games

  • from Part I - Background
  • Andrew Schotter, New York University
  • Book:
    Advice, Social Learning and the Evolution of Conventions
    Published online:
    09 March 2023
    Print publication:
    09 March 2023, pp 45-76

  • Summary

    In this chapter we start by defining an intergenerational game and its equilibria. We then discuss conventions of behavior, their relationship to intergenerational-game equilibria, and what it takes to make such conventions stable. This is followed by describing the relationship between our use of the term “social learning” and what standard economic theory interprets it to mean. At the end of the chapter we discuss two other types of games, dynastic games (Anderlini, Gerardi, and Laguno, 2008) and overlapping generations games (Kandori, 1992), which also have generational structures.