Creating an Algorithm Based on the Theory of Moral Sentiments

Susumu Egashira ()
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Susumu Egashira: Otaru University of Commerce

A chapter in A Genealogy of Self-Interest in Economics, 2021, pp 261-271 from Springer

Abstract: Abstract This chapter examines Adam Smith’s argument in The Theory of Moral Sentiments (TMS) based on a cognitive model. It considers its algorithm and builds an agent-based model. The TMS contains rich suggestions because it argues on how morality has emerged in a society in which selfish individuals interact Many previous studies have evaluated it highly in the history of economic thought. However, few studies precisely discuss the logic of transitioning from being “sympathetic to an impartial spectator and the relationship between “an impartial spectator” and “morality”. The chapter aims to reevaluate Smith’s argument based on modern cognitive science and an agent-based simulation. Although the theory’s basis differs from the modern artificial intelligence, it examines the emergence of a socially favorable order in the interactions of individuals as does the modern social science. This chapter discusses the potential of the TMS in our society by modeling it in accordance with modern cognitive science.

Keywords: Adam Smith; The theory of moral sentiments; Agent-based model; Algorithm (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-15-9395-6_15

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DOI: 10.1007/978-981-15-9395-6_15

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