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)
“Moral choices do not depend on personal preference and private decision but on right reason and, I would add, divine order.”
—Basil Hume (b. 1923)