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Legalism is a Chinese political philosophy that holds that self-interest underlies human nature and therefore human behavior. [1] It is axiomatic in Legalism that a government can not truly be staffed by upright and trustworthy men of service, because every member of the elite—like any member of society—will pursue their own interests and thus must be employed for their interests. [2]
The research of social preferences in economics started with lab experiments in 1980, where experimental economists found subjects' behavior deviated systematically from self-interest behavior in economic games such as ultimatum game and dictator game. These experimental findings then inspired various new economic models to characterize agent's ...
In contrast to enlightened self-interest is simple greed, or the concept of "unenlightened self-interest", in which it is argued that when most or all persons act according to their own myopic selfishness, the group suffers loss as a result of conflict, decreased efficiency and productivity because of lack of cooperation, and the increased expense each individual pays for the protection of ...
To him, the meaning of individual self-interest is a combination of economic and psychological needs. [13] [page needed] Fulfilling self-interest is often common within the economic realm of the social exchange theory where competition and greed can be common. [14]
Individualism is the moral stance, political philosophy, ideology, and social outlook that emphasizes the intrinsic worth of the individual. [1] [2] Individualists promote realizing one's goals and desires, valuing independence and self-reliance, and advocating that the interests of the individual should gain precedence over the state or a social group, while opposing external interference ...
Psychological egoism is the view that humans are always motivated by self-interest and selfishness, even in what seem to be acts of altruism.It claims that, when people choose to help others, they do so ultimately because of the personal benefits that they themselves expect to obtain, directly or indirectly, from doing so.
This chart illustrates the prisoner's dilemma, one of the most famous examples of game theory. Social dilemmas have attracted a great deal of interest in the social and behavioral sciences. Economists, biologists, psychologists, sociologists, and political scientists alike study behavior in social dilemmas.
Economic sociology is an attempt by sociologists to redefine in sociological terms questions traditionally addressed by economists. It is thus also an answer to attempts by economists (such as Gary Becker ) to bring economic approaches – in particular utility maximisation and game theory – to the analysis of social situations that are not ...