Published: 2022-06-30

Altruism in an economic context – analysis of selected models and research of behavioral economics

Magdalena Wasilewska
Academic Journal of Sociology
Section: Articles
https://doi.org/10.21697/ucs.2022.29.1.06

Abstract

The aim of this paper is to outline the theory, direction, and results of research on altruism and pro-social behaviour in economics. The text presents the basic assumptions of neoclassical economics, which assumes that decision-makers are selfish, rational and maximize their utility, and then behavioural economics, which is an alternative view of the rationality of individuals when faced with economic choices. The methodology and results of research on altruism in experimental economics using the ultimatum game, the dictator game, and the public good game are then discussed. The final part of the paper describes selected forms of the utility function proposed by behavioural economics, taking into account that the utility of economic decisionmakers is not only affected by their own well-being or wealth, but also by the situation and welfare of others.

Keywords:

altruism, behavioural economics, social preferences, inequity aversion

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Citation rules

Wasilewska, M. (2022). Altruism in an economic context – analysis of selected models and research of behavioral economics. Academic Journal of Sociology, 29(1), 53–63. https://doi.org/10.21697/ucs.2022.29.1.06

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