Malthusian Selection of Preferences
在内生人口的金色年代模型中研究偏好的自然选择,发现均衡时所有个体偏好都最大化生物适应性,总人口达到环境承载力上限,且被选择的偏好遵循黄金法则,使工作、储蓄、消费和人口密度随环境差异可预测变化。
The authors study natural selection of preferences using a golden-age model with endogenous population. In equilibrium, all agents have preferences with maximum biological fitness, given resource constraints, and total population is the maximum the environment can sustain. Naturally selected agents follow the golden rule, acting as if they maximize the undiscounted sum of per-capita felicities of current and future generations. Selected preferences and, hence, work, saving, consumption, and population density vary predictably with environmental differences. Copyright 1990 by American Economic Association.