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:
“Throughout the 1980’s, we did hear too much about individual gain and the ethos of selfishness and greed. We did not hear enough about how to be a good member of a community, to define the common good and to repair the social contract. And we also found that while prosperity does not trickle down from the most powerful to the rest of us, all too often indifference and even intolerance do.”
—Hillary Rodham Clinton (b. 1947)
“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)