Culture, Behavior Choices And Finance Development

but individual preference is heterogeneous, and preference and reason can be acquired through learning to get. The individual is in a different group of. as a member of the group for social interaction. Cognitive rational individuals or groups within the group between action, and no matter the group or groups may exist between various interest conflict, to this kind of kind of coordination need some rules, individual, social interaction spontaneous form this rule, namely the cultural or informal system. Therefore, cultural depends on an individual preferences. But with the increase in the number of people in the group interaction, the expansion of the scale of groups and agreement of the unequal power, individual began to appeal the third party’s formal institutions, if the introduction of external enforcement mechanism of costs below the informal rules in violation of the damage caused by, so the informal rules will be change to the formal rules. In the transition period in China, the present financial development culture "local" and "modern" dual characteristics, including "local" culture of China’s transition to the financial is found to contribute. But as the society to "modern" and "contract" social transformation, the financial development in the rule of law and formal system constraints will be more important role.