The Econometric SocietyEdited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262
Econometrica: Sep, 1997, Volume 65, Issue 5
https://doi.org/0012-9682(199709)65:5<1005:SDASD>2.0.CO;2-8
p. 1005-1027
George A. Akerlof
A model of social distance is presented that is useful for understanding social decisions. Status and conformity in previous models are discussed, and then a generalization is described. In this generalization agents have inherited positions in social space and an expected value of trade between two individuals as a function of the difference in their initial positions. An example of this system is constructed in which there is class stability. Agents who are initially close interact strongly while those who are socially distant have little interaction. In this example inherited social position, which may be interpreted as social class, plays a dominant role. The relevance of this model to social decisions such as the choice of educational attainment and childbearing is discussed in the context of specific ethnographic examples. Class position may play a dominant role in these decisions.
March 5, 2024
The terms of the Editors of the Econometric Society's three journals end June 30, 2025. We are pleased to announce the incoming Editors and to thank the outgoing Editors for their excellent and continuing service.
Econometrica: Since 2019, Guido Imbens has served as the 14th Editor of Econometrica. On July 1, 2025, Marina Halac will become the Editor.
Quantitative Economics: Stéphane Bonhomme has been the Editor of Quantitative Economics since 2021. His successor will be Bernard Salanié.
Theoretical Economics: The Editor of Theoretical Economics since 2021 has been Simon Board. Taking over for him in July 2025 will be Federico Echenique.
Guido, Stéphane, and Simon have been outstanding Editors. We are grateful to them for the work they have done and will continue to do, and we look forward to further congratulating them next year. We believe Marina, Bernard, and Federico will be outstanding successors and we thank them in advance for their service.
Finally, we are grateful to Larry Samuelson for chairing all three search committees, and we thank the search committee members for their hard and fruitful work:
Econometrica: Christian Dustmann, Lars Hansen, Alessandro Lizzeri, George Mailath, Ariel Pakes, Helene Rey, and Elie Tamer.
QE: Kate Ho, Michael Keane, Felix Kubler, Whitney Newey, and Frank Schorfheide.
TE: Jeff Ely, Johannes Horner, Gilat Levy, Meg Meyer, and Ran Spiegler.
