Social preferences

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.^[1][2]

References

1. ↑ Gary Becker, The Economics of Discrimination
2. ↑ Erzo F.P. Luttmer, "Neighbors as Negatives: Relative Earnings and Well Being," Quarterly Journal of Economics