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:
“Man is known to be a selfish, as well as a social being.”
—James Madison (1751–1836)
“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)