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 soon as you are in a social setting, you better take away the key to the lock of your heart and pocket it; those who leave the key in the lock are fools.”
—Johann Wolfgang Von Goethe (1749–1832)
“Do not discourage your children from hoarding, if they have a taste to it; whoever lays up his penny rather than part with it for a cake, at least is not the slave of gross appetite; and shows besides a preference always to be esteemed, of the future to the present moment.”
—Samuel Johnson (1709–1784)