Amending the Economist’s “Rational Egoist” Model to Include Moral Values and Norms
Author(s)
Goldfarb, Robert S.; Griffith, William B.
Abstract
Incorporating moral values and social norms into economic analysis presents various challenges to the traditional model of microeconomic behavior. This paper evaluates the various attempts to integrate moral values and economic preferences and discusses the efforts of economists to explain the development of moral values and social norms.
