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Incorporating Conditional Morality into Economic Decisions

David Masclet and David Dickinson

No 19-12, Working Papers from Department of Economics, Appalachian State University

Abstract: We present a framework that incorporates both moral motivations and fairness considerations into utility. The main idea is that individuals face a preference trade-off between their material individual interest and their desire to follow moral norms. In our model, we assume that moral motivation is conditional and may be influenced by others’ actions. Specifically, in our framework moral obligation is a combination of two main components: an autonomous component and a social influence component that captures the influence of others. Our framework is able to explain many stylized results in the literature and to improve theories of economic behavior. Key Words: Fairness, Ethical Decision Making, Moral Motivation, Behavioral Economics

JEL-codes: B3 D6 D9 (search for similar items in EconPapers)
Date: 2019
New Economics Papers: this item is included in nep-cbe, nep-exp, nep-hme, nep-neu, nep-soc and nep-upt
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Working Paper: Incorporating Conditional Morality into Economic Decisions (2019) Downloads
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