WDW101Y1 Chapter Notes - Chapter 5: Ernst Fehr, Herbert Gintis
27 Mar 2018
School
Department
Course
Professor
Document Summary
There are theories and policies, some used in the economy, that have effect on social order. Internalization theories are theories that suggest people can be prosocial opposed the just being self-interested: we adopt and internalize the ideas of other people and groups and take their norms and make it ours. Incentive based theories basically refers to how humans will participate or cooperate in a group for a reward. Theories can be used to analyze the good and bad in society. Er(cid:374)st fehr a(cid:374)d her(cid:271)ert gi(cid:374)tis, (cid:862)hu(cid:373)a(cid:374) moti(cid:448)atio(cid:374) a(cid:374)d o(cid:272)ial cooperatio(cid:374),(cid:863) i(cid:374) h&h, (cid:1006)6-33. Homo sociologius, a creature that can follow social norms and not for self-interest. Homo economicus, a creature who is only self-interested. There are cooperators in society that have internalized social values and are willing to cooperate in society, but there a people such as free riders that threaten this order. Garret hardi(cid:374), (cid:862)the traged(cid:455) of the co(cid:373)(cid:373)o(cid:374)s,(cid:863) science 162 (1968)
