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Sociality and self interest

Published online by Cambridge University Press:  22 December 2005

Vernon L. Smith*
Affiliation:
Departments of Economics and Law, George Mason University, Fairfax, VA 22030
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Abstract

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Selfishness narrowly defined as choosing dominant outcomes independent of context is widely rejected by experimentalists. Humans live in two worlds of personal and impersonal exchange; both are manifestations of human sociality, but the emphasis on preferences rather than cultural norms of personal exchange across time too much reflects a limited economic modeling, and fails to capitalize on the fresher experimental economics message of culture and diversity.

Information

Type
Open Peer Commentary
Copyright
Copyright © Cambridge University Press 2005