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:
“Any one who knows what the worth of family affection is among the lower classes, and who has seen the array of little portraits stuck over a labourer’s fireplace ... will perhaps feel with me that in counteracting the tendencies, social and industrial, which every day are sapping the healthier family affections, the sixpenny photograph is doing more for the poor than all the philanthropists in the world.”
—Macmillan’s Magazine (London, September 1871)
“When I am convinced of any principle, it is only an idea which strikes more strongly upon me. When I give the preference to one set of arguments above another, I do nothing but decide from my feeling concerning the superiority of their influence.”
—David Hume (1711–1776)