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(Wednesday, 14th May 2025)
Title : Modelling cultural change
In October 2024, the Nobel Committee recognized the work of Daron Acemoglu, Simon Johnson, and James A. Robinson for their contributions to understanding the role of institutions in economic development. Yet, just a few months later, we were reminded that institutions rely crucially on the norms and culture that sustain them. While we have a well-developed theoretical literature on institutional change, our understanding of cultural change remains far less advanced. Increasingly, the argument is being made that a robust theory of cultural evolution is essential to building a deeper theory of institutional change. The formalization of cultural transmission in economics, exemplified by Bisin and Verdier’s (2001) model of intergenerational cultural transmission and Shayo’s (2009) work on identity and economic behavior, provides a foundation. However, many critical questions remain. How do cultural traits evolve over the long run? What evolutionary mechanisms drive cultural persistence and change? How can agent-based models help us understand the interaction between individuals and cultural shifts? What roles do migration, education, technology, and political dynamics play in shaping culture?