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Title
Social preference, institution, and distribution : an experimental and philosophical approach / Natsuka Tokumaru.
ISBN
9789811001376 (electronic book)
9811001375 (electronic book)
9789811001369
Published
Singapore : Springer Science and Business Media, 2016.
Language
English
Description
1 online resource : illustrations
Call Number
HB74.P8
Dewey Decimal Classification
330.019
Summary
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.
Bibliography, etc. Note
Includes bibliographical references.
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Source of Description
Vendor-supplied metadata.
Series
Evolutionary economics and social complexity science ; v. 3.
Preface
I. Introduction: What Experiments Can Do in the History of Economic Thought? : From Adam Smith to Vernon Smith
II. Fairness Ideals, Hidden Selfishness and Opportunistic Behavior: Experimental Approach
III. What is 'Fair' Distribution under Collaboration? : Evidences from Lab-Experiments
IV. Income Sharing between Workers and Investors: Experiments on Functional Income Distribution
V. Socially Responsible Investment: Distribution among Investors, Enterprises, and Society
VI. From Micro-Analysis to Social Theory: Wieser's Gedankenexperiment and Social Economics
VII. Conclusion: From Empirical Behavioral Theory to Evolutionary Theory of Institution
Appendix.
