The Economics of Reciprocity, Giving and Altrusim

This IEA conference volume consists of four parts entitled Giving, Reciprocity, Family, and Evolution. Of the four parts, the contributions on reciprocity have attracted my utmost attention for three particular reasons. First, the specific analysis of reciprocating behaviour is underrepresented in the economics literature in comparison to studies of philanthropy and non‐profit organisations and a host of research on families and households. Second, I have been intrigued by apparent parallels, but also significant differences between many instances of social exchange and certain modes of economic exchange. Finally, the erudite introduction by Serge‐Christophe Kolm provides a lucid discussion and fairly comprehensive survey of the essential aspects of reciprocity, amended by an original theory of reciprocity in a later chapter. The topic of the conference and the unifying theme of the volume are non‐market transfers of goods and services. With a few exceptions, the contributions collected here deal with voluntary private transfers of wealth, goods, and services which are not of the quid pro quo or pure exchange kind. The most intriguing question concerns motivation, since according to the textbook paradigm of self‐interested behaviour such transfers should not occur. Further concerns are prevalence and importance; specifically, how private non‐market transfers compare and interfere with private market exchange on the one hand and public policy and transfers on the other hand

Economics · Law and economics · Neoclassical economics · Norm of reciprocity · Parallels · Political science · Positive economics · Private good · Public economics · Public good · Reciprocity (cultural anthropology · Social exchange theory · Social science · Sociology · Economic Theory and Institutions · Law · Political Economy and Marxism