In one page.
One interpretation of Vernon Smith article, “The Fair and Impartial Spectator,”(SEE ATTACHMENT) is that social preferences are not really preferences, and that unselfish behavior is really motivated by the desire to follow rules and conventions with respect to what is fair.
Answer the Follow questions and defend your arguments (Use citations)
-Is this interpretation correct?
– What are the implications for the utilitarian and egalitarian perspectives discussed in the lecture notes (SEE ATTACHMENT)?