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:
“Let us hope ... that by the best cultivation of the physical world, beneath and around us; and the intellectual and moral world within us, we shall secure an individual, social and political prosperity and happiness, whose course shall be onward and upward, and which, while the earth endures, shall not pass away.”
—Abraham Lincoln (1809–1865)
“It is impossible for us to love anything without some respect to ourselves; and we only consult our own inclination and our own pleasure when we prefer our friends to ourselves. And yet this preference is the only thing that can render friendship perfect and sincere.”
—François, Duc De La Rochefoucauld (1613–1680)