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Incorporating Conditional Morality into Economic Decisions

David Masclet () and David Dickinson

Economics Working Paper Archive (University of Rennes 1 & University of Caen) from Center for Research in Economics and Management (CREM), University of Rennes 1, University of Caen and CNRS

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.

Keywords: Fairness; Ethical Decision Making; Moral Motivation; Behavioral Economics (search for similar items in EconPapers)
JEL-codes: B3 D6 D9 (search for similar items in EconPapers)
Date: 2019-12
New Economics Papers: this item is included in nep-cbe, nep-evo, nep-exp, nep-hme, nep-hpe, nep-neu and nep-upt
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Working Paper: Incorporating Conditional Morality into Economic Decisions (2019) Downloads
Working Paper: Incorporating Conditional Morality into Economic Decisions (2019) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:tut:cremwp:2019-10

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