• Bina Agarwal
  • Alessandro Vercelli
Part of the International Economic Association Series book series (IEA)


‘How selfish soever man may be supposed, there are evidently some principles in his nature, which interest him in the fortune of others, and render their happiness necessary to him, though he derives nothing from it, except the pleasure of seeing it.’

(Amartya Sen, 2002: 46)

[T]he insistence on the pursuit of self-interest as an inescapable necessity for rationality subverts the “self” as a free, reasoning being, by overlooking the freedom to reason about what one should pursue.’

(Adam Smith, [1759] 1966: 3)

Economics today is at an exciting stage of evolution, as it begins to reopen routes of interchange with other disciplines. In this interdisciplinary exchange, psychology stands closer to centre-stage than most other disciplines. It has provided the grist for challenging many standard economic assumptions and catalysed the rapidly growing fields of behavioural economics and experimental economics.


Social Preference Economic Behaviour Dictator Game Inequality Aversion Inequity Aversion 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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Copyright information

© International Economic Association 2005

Authors and Affiliations

  • Bina Agarwal
    • 1
  • Alessandro Vercelli
    • 2
  1. 1.Institute of Economic GrowthUniversity of DelhiIndia
  2. 2.University of SienaItaly

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