social preferences

Jeffrey Carpenter
From The New Palgrave Dictionary of Economics, Second Edition, 2008
Edited by Steven N. Durlauf and Lawrence E. Blume
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Abstract

Behaviour in a variety of games is inconsistent with the traditional formulation of egoistic decision-makers; however, the observed differences are often systematic and robust. In many cases, people behave as if they value the outcomes accruing to other reference agents. In reaction, behavioural economists have offered and tested a variety of formulations (such as inequality aversion and reciprocity) that capture the social nature of preferences.
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How to cite this article

Carpenter, Jeffrey. "social preferences." The New Palgrave Dictionary of Economics. Second Edition. Eds. Steven N. Durlauf and Lawrence E. Blume. Palgrave Macmillan, 2008. The New Palgrave Dictionary of Economics Online. Palgrave Macmillan. 01 October 2014 <http://www.dictionaryofeconomics.com/article?id=pde2008_P000153> doi:10.1057/9780230226203.1564

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