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The same face of the two Smiths: Adam Smith and Vernon Smith

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  • Paganelli, Maria Pia
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    Abstract

    Going from personal to impersonal exchange seems to be a relevant feature that allows humans to develop complex societies and grow prosperous. Adam Smith's idea of moral imagination, embodied in the impartial spectator and achieved through sympathy, may integrate and complement today's evolutionary biology and experimental economic explanations, providing the missing key as to how we generate and internalize those rules of conduct that promote fair and cooperative behaviors.

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    File URL: http://www.sciencedirect.com/science/article/pii/S0167268111000230
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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Economic Behavior & Organization.

    Volume (Year): 78 (2011)
    Issue (Month): 3 (May)
    Pages: 246-255

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    Handle: RePEc:eee:jeborg:v:78:y:2011:i:3:p:246-255

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    Web page: http://www.elsevier.com/locate/jebo

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    Keywords: Cooperation with strangers Adam Smith Vernon Smith Sympathy;

    References

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    1. Levy, David M. & Peart, Sandra J., 2004. "Sympathy And Approbation In Hume And Smith: A Solution To The Other Rational Species Problem," Economics and Philosophy, Cambridge University Press, vol. 20(02), pages 331-349, October.
    2. Rigdon, Mary & McCabe, Kevin & Smith, Vernon, 2001. "Sustaining cooperation in trust games," MPRA Paper 2006, University Library of Munich, Germany, revised 23 Apr 2006.
    3. Smith, Vernon L., 2002. "Constructivist and Ecological Rationality in Economics," Nobel Prize in Economics documents 2002-7, Nobel Prize Committee.
    4. Colin F. Camerer & Richard H. Thaler, 1995. "Anomalies: Ultimatums, Dictators and Manners," Journal of Economic Perspectives, American Economic Association, vol. 9(2), pages 209-219, Spring.
    5. Evelyn L. Forget, 2003. "Evocations of Sympathy: Sympathetic Imagery in Eighteenth-Century Social Theory and Physiology," History of Political Economy, Duke University Press, vol. 35(5), pages 282-308, Supplemen.
    6. Smith, Vernon L., 2010. "What would Adam Smith think?," Journal of Economic Behavior & Organization, Elsevier, vol. 73(1), pages 83-86, January.
    7. Hoffman, Elizabeth & McCabe, Kevin & Smith, Vernon L, 1996. "Social Distance and Other-Regarding Behavior in Dictator Games," American Economic Review, American Economic Association, vol. 86(3), pages 653-60, June.
    8. Nathan Rosenberg, 1990. "Adam Smith and the Stock of Moral Capital," History of Political Economy, Duke University Press, vol. 22(1), pages 1-18, Spring.
    9. Vernon L. Smith, 1998. "The Two Faces of Adam Smith," Southern Economic Journal, Southern Economic Association, vol. 65(1), pages 2-19, July.
    10. Todd L. Cherry & Peter Frykblom & Jason F. Shogren, 2002. "Hardnose the Dictator," American Economic Review, American Economic Association, vol. 92(4), pages 1218-1221, September.
    11. James C. Cox & Cary A. Deck, 2005. "On the Nature of Reciprocal Motives," Economic Inquiry, Western Economic Association International, vol. 43(3), pages 623-635, July.
    12. Christopher J. Berry, 2006. "Aristotle, Hobbes and Chimpanzees," Political Studies, Political Studies Association, vol. 54, pages 827-845, December.
    13. Tullock, Gordon, 1985. "Adam Smith and the Prisoners' Dilemma," The Quarterly Journal of Economics, MIT Press, vol. 100(5), pages 1073-81, Supp..
    14. Avner Greif, 2006. "History Lessons: The Birth of Impersonal Exchange: The Community Responsibility System and Impartial Justice," Journal of Economic Perspectives, American Economic Association, vol. 20(2), pages 221-236, Spring.
    15. Khalil, Elias L., 2011. "The mirror neuron paradox: How far is understanding from mimicking?," Journal of Economic Behavior & Organization, Elsevier, vol. 77(1), pages 86-96, January.
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