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

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  • Paganelli, Maria Pia

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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  • Paganelli, Maria Pia, 2011. "The same face of the two Smiths: Adam Smith and Vernon Smith," Journal of Economic Behavior & Organization, Elsevier, vol. 78(3), pages 246-255, May.
    • Handle: RePEc:eee:jeborg:v:78:y:2011:i:3:p:246-255
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    1. Khalil, Elias L., 2017. "Socialized view of man vs. rational choice theory: What does smith’s sympathy have to say?," Journal of Economic Behavior & Organization, Elsevier, vol. 143(C), pages 223-240.
    2. Erik W. Matson, 2023. "Ethical Economics or Economical Ethics? Considerations out of Carl Menger," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 36(2), pages 311-330, June.
    3. Siri Terjesen & Amy Willis, 2016. "Experimental economics and business education: an interview with Nobel Laureate Vernon Lomax Smith," Small Business Economics, Springer, vol. 47(1), pages 261-275, June.

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