Acknowledgments Part I The Effect of Social Capital on Market Behavior 1. The Importance of Social Interactions 2. Social Forces, Preferences, and Complementarity 3. Are Choices "Rational" When Social Capital Is Important? Part II The Formation of Social Capital 4. Sorting by Marriage 5. Segregation and Integration in Neighborhoods 6. The Social Market for the Great Masters and Other Collectibles with William Landes 7. Social Markets and the Escalation of Quality: The World of Veblen Revisited with Edward Glaeser 8. Status and Inequality with Ivan Werning Part III Fads, Fashions, and Norms 9. Fads and Fashion 10. The Formation of Norms and Values References Author Index Subject Index
Gary S. Becker was University Professor of Economics and Sociology at the University of Chicago. In 1992, he was awarded the Nobel Prize in Economics. Kevin Murphy is the George Pratt Shultz Professor of Economics and Industrial Relations, Graduate School of Business, the University of Chicago. He won the John Bates Clark Medal of the American Economics Association in 1997.
[Becker and Murphy] are pioneers in the quest to extend the
boundaries of rational choice theory in economics… They depict
human beings not as isolated individuals but as members of society,
shaped by social and cultural forces… This book marks another step
in bringing economic theory closer to social reality.
*Times Literary Supplement*
This fascinating short book seeks to advance a ‘social economics’
field that would tackle such interpersonal issues head-on. It does
so by addressing a diverse set of issues that includes social
capital, habits and social interactions, sorting and marriage
markets, segregation and integration of neighborhoods, escalation
in product quality, status and inequality, and the modeling of
fashions, norms, and values.
*Journal of Economic Literature*
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