Social Preference

Social preference refers to the idea that individuals often make decisions not just based on their own personal gain, but also considering the well-being and outcomes of others. This can involve prioritizing fairness, cooperation, or altruism in interactions. For example, in group settings, people may choose to share resources or support others, even at a cost to themselves, because they value social relationships and a sense of community. Understanding social preferences helps explain behaviors in contexts like economics, psychology, and social sciences, highlighting how humans balance self-interest with concern for others.