Social Economics is popular PDF and ePub book, written by Gary Stanley Becker in 2009-07, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Social Economics can be Read Online from any device for your convenience.
Social Economics Book PDF Summary
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. In this book, Gary Becker and Kevin Murphy provide such a framework by including the social environment along with standard goods and services in their utility functions. These extended utility functions provide a way of analyzing how changes in the social environment affect people's choices and behaviors. More important, they also provide a way of analyzing how the social environment itself is determined by the interactions of individuals. Using this approach, the authors are able to explain many puzzling phenomena, including patterns of drug use, how love affects marriage patterns, neighborhood segregation, the prices of fine art and other collectibles, the social side of trademarks, the rise and fall of fads and fashions, and the distribution of income and status.
Detail Book of Social Economics PDF
- Author : Gary Stanley Becker
- Release : 01 July 2009
- Publisher : Harvard University Press
- ISBN : 9780674020641
- Genre : Business & Economics
- Total Page : 180 pages
- Language : English
- PDF File Size : 17,9 Mb
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