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The Fair and Impartial Spectator

Author

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  • Vernon L. Smith

Abstract

Adam Smith’s metaphor of the impartial spectator is an essential element in understanding his model of the maturation process whereby people learn to follow general rules that honor the human sentiments of gratitude and resentment in others. Through the impartial spectator human action, subject to error, is governed by self-command. Smith’s model is presented in the form of a series of propositions.

Suggested Citation

  • Vernon L. Smith, 2016. "The Fair and Impartial Spectator," Econ Journal Watch, Econ Journal Watch, vol. 13(2), pages 330–339-3, May.
    • Handle: RePEc:ejw:journl:v:13:y:2016:i:2:p:330-339
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    References listed on IDEAS

    as
    1. Smith,Vernon L., 2009. "Rationality in Economics," Cambridge Books, Cambridge University Press, number 9780521133388.
    2. Erik O. Kimbrough & Vernon L. Smith & Bart J. Wilson, 2008. "Historical Property Rights, Sociality, and the Emergence of Impersonal Exchange in Long-Distance Trade," American Economic Review, American Economic Association, vol. 98(3), pages 1009-1039, June.
    3. Daniel Kahneman, 2003. "Maps of Bounded Rationality: Psychology for Behavioral Economics," American Economic Review, American Economic Association, vol. 93(5), pages 1449-1475, December.
    4. Wilson, Bart J., 2008. "Language games of reciprocity," Journal of Economic Behavior & Organization, Elsevier, vol. 68(2), pages 365-377, November.
    5. Wilson, Bart J., 2010. "Social preferences aren't preferences," Journal of Economic Behavior & Organization, Elsevier, vol. 73(1), pages 77-82, January.
    6. Berg Joyce & Dickhaut John & McCabe Kevin, 1995. "Trust, Reciprocity, and Social History," Games and Economic Behavior, Elsevier, vol. 10(1), pages 122-142, July.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Chen, Daniel L. & Schonger, Martin, 2016. "Social preferences or sacred values? Theory and evidence of deontological motivations," TSE Working Papers 16-714, Toulouse School of Economics (TSE), revised Feb 2020.

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    More about this item

    Keywords

    Adam Smith; Theory of Moral Sentiments; impartial spectator; philosophy;
    All these keywords.

    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values

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