Social Transmission Bias and the Cultural Evolution of Folk Economic Beliefs

5 Pages Posted: 2 Apr 2018  

David A. Hirshleifer

University of California, Irvine - Paul Merage School of Business; NBER

Siew Hong Teoh

University of California - Irvine - Accounting Area

Date Written: December 10, 2017

Abstract

Evolved dispositions influence, but do not determine, how people think about economic problems. The evolutionary cognitive approach offers important insights, but underweights the social transmission of ideas as a level of explanation. The need for a social explanation for the evolution of economic attitudes is evidenced, for example, by immense variations in folk economic beliefs over time and across individuals.

Keywords: folk economic beliefs, social transmission bias, cultural evolution

JEL Classification: D03, H00, K00, M00, P00

Suggested Citation

Hirshleifer, David A. and Teoh, Siew Hong, Social Transmission Bias and the Cultural Evolution of Folk Economic Beliefs (December 10, 2017). Available at SSRN: https://ssrn.com/abstract=3151931 or http://dx.doi.org/10.2139/ssrn.3151931

David A. Hirshleifer (Contact Author)

University of California, Irvine - Paul Merage School of Business ( email )

Irvine, CA California 92697-3125
United States

HOME PAGE: http://sites.uci.edu/dhirshle/

NBER ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Siew Hong Teoh

University of California - Irvine - Accounting Area ( email )

Irvine, CA 92697-3125
United States

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