Social Economics

This study of the choices people make draws together the conflicting beliefs of economists and other social scientists. The book includes the social environment with goods and services in its utility functions, providing analysis of how the individual and society interact.

Autorentext
GARY S. BECKER is University Professor of Economics and Sociology at the University of Chicago. In 1992 he was awarded the Nobel Prize in Economics. He is the author of A Treatise on the Family and Accounting for Tastes (both from Harvard). KEVIN MURPHY is the George Pratt Shultz Professor of Economics and Industrial Relations, Graduate School of Business, University of Chicago. He won the John Bates Clark Medal of the American Economics Association in 1997.

Klappentext
Economists assume that people make choices based on their preferences and their budget constraints. The preferences and values of others play no role in the standard economic model. This feature has been sharply criticized by other social scientists, who believe that the choices people make are also conditioned by social and cultural forces. Economists, meanwhile, are not satisfied with standard sociological and anthropological concepts and explanations because they are not embedded in a testable, analytic framework.< P>


Zusammenfassung
The authors offer an analytic framework for measuring how people make choices, including social environment with standard goods and services in their utility functions. These functions enable analysis of how changes in social environment affect choice, and provide a way of analyzing how social environment is determined by individuals' interactions.

Inhalt
Acknowledgments Part I The Effect of Social Capital on Market Behavior 1. The Importance of Social Interactions 2. Social Forces, Preferences, and Complementarity 3. Are Choices "Rational" When Social Capital Is Important? Part II The Formation of Social Capital 4. Sorting by Marriage 5. Segregation and Integration in Neighborhoods 6. The Social Market for the Great Masters and Other Collectibles with William Landes 7. Social Markets and the Escalation of Quality: The World of Veblen Revisited with Edward Glaeser 8. Status and Inequality with Ivan Werning Part III Fads, Fashions, and Norms 9. Fads and Fashion 10. The Formation of Norms and Values References Author Index Subject Index

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