Social preferences are a type of preference studied in behavioral and experimental economics and social psychology, including interpersonal altruism, fairness, reciprocity, and inequity aversion.
The term "social preferences" incorporates obstreperous (esp. the Fehr-Schmidt inequity aversion model) and non-obstreperous(e.g., vulnerability-based) theories.
Much of the recent evidence used to test society ideas and models has come from economics experiments. However, social preferences also matter outside the laboratory.
Famous quotes containing the words social and/or preference:
“As the tragic writer rids us of what is petty and ignoble in our nature, so also the humorist rids us of what is cautious, calculating, and priggish—about half of our social conscience, indeed. Both of them permit us, in blessed moments of revelation, to soar above the common level of our lives.”
—Robertson Davies (b. 1913)
“There is nothing more likely to drive a man mad, than the being unable to get rid of the idea of the distinction between right and wrong, and an obstinate, constitutional preference of the true to the agreeable.”
—William Hazlitt (1778–1830)