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Social Preference, Institution, and Distribution - An Experimental and Philosophical Approach (Hardcover, 1st ed. 2016)
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Social Preference, Institution, and Distribution - An Experimental and Philosophical Approach (Hardcover, 1st ed. 2016)
Series: Evolutionary Economics and Social Complexity Science, 3
Expected to ship within 10 - 15 working days
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This is the first book to examine behavioral theories on social
preference from institutional and philosophical perspectives using
economic experiments. The experimental method in economics has
challenged central behavioral assumptions based on rationality and
selfishness, proposing empirical evidence that not only profit
seeking but also social preferences matter in individuals' decision
making. By performing distribution experiments in institutional
contexts, the author extends assumptions about human behavior to
understand actual social economy. The book also aims to enrich
behavioral theories of economics directed toward institutional
evolution.The author scrutinizes how specific institutional
conditions enhance or mute individuals' selfish incentives or their
fairness ideals such as egalitarian, performance-based, labor-value
radicalism or libertarianism. From experimental results and their
analysis, implications for actual problems in social economy and
institutional change are derived: why performance-based pay often
fails to promote workers' productivity; why labor wages decline
whereas shareholder's values increase after financialization; and
whether socially responsible investment can be a social institution
for corporate governance.The book is also addressed to philosophers
of social sciences interested in how experimental methods can
contribute to developing cognition of human behaviors and be
extended to social theories. Referring to behavioral theorists in
the history of economic thought, the author discusses the meanings
of experiments in the methodology of social sciences. She also
proposes new ways of interpreting experimental results by reviving
historic social theories and applying them to actual social
problems.
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