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Abstract

Cultural evolution in which individuals? propensity to engage in sharing of common economic resources is dependent on cultural traits of individuals. In general, the trait which is commonly prudent in a culture engages in sharing of the bulk of economic resources, whereas the trait of ?deviants? (minority in sharing economic resources) often misfit for the traditional economic settings. However in the process of socioeconomic change, new economic trends might develop in which deviant type can make optimal use of the new economies. As result deviants gradually become the most successful individuals i.e., cultural role models, and influences cultural evolution. New economic arrangements might affect cultural evolution in two ways: either by influencing the economic well-being of those exhibiting distinct traits or by altering the learning rules which make up the process of cultural transmission itself. The cultural transmission process translates economic well-being by exposure to role models and influences replication of traits. Thus, socioeconomic change intervene replication of traits between payoffs and imitation of role models. In this work by using evolutionary dynamics in finite populations, we calculate fixation probabilities of deviant traits in various socioeconomic conditions. Our simulation revealed that the traits which are disadvantage in the traditional economic i.e., misfit will proliferate under the influence of socioeconomic change.

Biography

Balaraju Battu completed his masters in Physics from Osmania University and Consciousness studies from BITS-Pilani both are from India. He has four years research experience in cognitive sciences and economics at Utrecht University, the Netherlands and Queen Mary, University of London, UK, respectively. He also got Unilever fellowship for carrying out research in examining, how individuals discount future sustainability benefits in the context of usage of detergents in day-to-day laundry usage