Social Decision Theory and Non-strategic Behaviour
AbstractUsing the Expected Utility framework, this paper develops a general model of other-regarding preferences under risk. I assume that in addition to conventional preferences over outcomes, individuals could have preferences over outcomes of their peers. Decision makers with other-regarding preferences may show a concern for risk; that is they may care not just about what the outcomes of others are but also the risks taken by the others. In our representation, we separate a self-regarding component of the decision maker's preferences from another regarding component. The self-regarding component is represented by a \von Neumann-Morgenstern utility function". The other regarding component is an expected social value function which depends on the social interactions between decision maker and the others.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), University of Nice Sophia Antipolis in its series GREDEG Working Papers with number 2012-10.
Length: 18 pages
Date of creation: Oct 2012
Date of revision:
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Segal, Uzi & Sobel, Joel, 1999.
"Tit for Tat: Foundations of Preferences for Reciprocity in Strategic Settings,"
University of California at San Diego, Economics Working Paper Series
qt9xf8836g, Department of Economics, UC San Diego.
- Segal, Uzi & Sobel, Joel, 2007. "Tit for tat: Foundations of preferences for reciprocity in strategic settings," Journal of Economic Theory, Elsevier, vol. 136(1), pages 197-216, September.
- Uzi Segal & Joel Sobel, 1999. "Tit for Tat: Foundations of Preferences for Reciprocity in Strategic Settings," UWO Department of Economics Working Papers 9905, University of Western Ontario, Department of Economics.
- Edi Karni & Zvi Safra, 2002. "Individual Sense of Justice: A Utility Representation," Econometrica, Econometric Society, vol. 70(1), pages 263-284, January.
- Kockesen, Levent & Ok, Efe A., 1997. "Negatively Interdependent Preferences," Working Papers 97-02, C.V. Starr Center for Applied Economics, New York University.
- Guth, Werner & Schmittberger, Rolf & Schwarze, Bernd, 1982. "An experimental analysis of ultimatum bargaining," Journal of Economic Behavior & Organization, Elsevier, vol. 3(4), pages 367-388, December.
- Candeal, Juan C. & Indurain, Esteban & Mehta, Ghanshyam B., 2004. "Utility functions on locally connected spaces," Journal of Mathematical Economics, Elsevier, vol. 40(6), pages 701-711, September.
- Forsythe Robert & Horowitz Joel L. & Savin N. E. & Sefton Martin, 1994. "Fairness in Simple Bargaining Experiments," Games and Economic Behavior, Elsevier, vol. 6(3), pages 347-369, May.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Patrice Bougette).
If references are entirely missing, you can add them using this form.