Punctuality
Subtitle: a cultural trait as equilibrium
By: Kaushik Basu, Jorgen W. Weibull
Contributors: Weibull, Jr̲gen W.; Massachusetts Institute of Technology. Dept. of Economics
Series: Working paper series / Massachusetts Institute of Technology, Dept. of Economics -- working paper 02- 26; Working paper (Massachusetts Institute of Technology. Dept. of Economics) -- no. 02-26.
Publisher: Massachusetts Institute of Technology, Dept. of Economics
Published: 2002
Place of publication: Cambridge, MA
Language: eng
Number of pages: 19
Description: A people's culture, norms and habits are important determinants not just of the quality of social life but of economic progress and growth. In this paper we take the view that while the importance of culture is undeniable, the innateness of culture is not. We work here with a single example and demonstrate how a human trait which is widely believed to be cultural is at the same time a matter of choice. The example that we shall work with concerns punctuality. We show that punctuality may be simply an equilibrium response of individuals to what they expect others to do. The same society can get caught in a punctual equilibrium or a non-punctual equilibrium. Keywords: Punctuality, coordination games, culture, norms. JEL Classifications: Z10, C72, D29, O12.
Notes: "June 10, 2002."

Includes bibliographical references (p. 17-19).

Abstract in HTML and working paper for download in PDF available via World Wide Web at the Social Science Research Network.