Influence of Social Norms on Individual Preferences
While individual decisions are driven by personal preferences—which encompass a person's likes, dislikes, attitudes, and beliefs, including social preferences like altruism—these preferences are not formed in isolation. They can be significantly shaped by prevailing social norms, which are the shared understandings within a group about how one should act. This interaction helps explain why people's choices often deviate from pure self-interest.
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Ch.4 Strategic interactions and social dilemmas - The Economy 2.0 Microeconomics @ CORE Econ
Ch.10 Market successes and failures: The societal effects of private decisions - The Economy 2.0 Microeconomics @ CORE Econ
The Economy 2.0 Microeconomics @ CORE Econ
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