Tastes for Desert and Placation: A Reference Point-Dependent Model of Social Preferences

Chen, Daniel L. (2018) Tastes for Desert and Placation: A Reference Point-Dependent Model of Social Preferences. In: Research in Experimental Economics Emerald.

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Official URL: http://tse-fr.eu/pub/33348

Abstract

This paper proposes a reference-point dependent model of social behavior where individuals maximize a three-term utility function: a consumption utility term and two “social” terms. One social term captures a preference for desert (i.e., others getting what we think they deserve) and the other term a preference for the satisfaction of other’s expectations, or to placate them (i.e., them getting what we think they think they deserve). After motivating the modeling assumptions with findings from empirical moral philosophy and evolutionary psychology, I introduce the model and generate some simple comparative statics results, which I then test with experiments. I discuss how the model explains several paradoxes of empirical moral philosophy that are less explicable by current economic models of social preference focusing on outcomes and intentions.

Item Type: Book Section
Language: English
Date: 2018
Uncontrolled Keywords: Reference points, social preferences, just desert
JEL Classification: D6 - Welfare Economics
K2 - Regulation and Business Law
Subjects: B- ECONOMIE ET FINANCE
Divisions: TSE-R (Toulouse)
Site: UT1
Date Deposited: 06 Feb 2019 15:06
Last Modified: 08 Oct 2019 23:06
["eprint_fieldname_oai_identifier" not defined]: oai:tse-fr.eu:33348
URI: http://publications.ut-capitole.fr/id/eprint/31265

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