Social Norms and Preferences
Social norms are often posited as an explanation of differences in economic behavior and performance of societies that are difficult to explain by differences in endowments and technology. Economists are often reluctant to incorporate social aspects into their analyses when doing so leads to models that depart from the “standard” model. I discuss ways that agents’ social environment can be accommodated in standard models and the advantages and disadvantages of doing so.
|Date of creation:||01 May 2010|
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Web page: http://economics.sas.upenn.edu/pier
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