The Same Face of the Two Smiths: Adam Smith and Vernon Smith

Journal of Economic Behavior & Organization, Vol. 78, pp. 246-255, 2011

Posted: 13 May 2011

Date Written: May 12, 2011

Abstract

Going from personal to impersonal exchange seems to be a relevant feature that allows humans to develop complex societies and grow prosperous. Adam Smith’s idea of moral imagination, embodied in the impartial spectator and achieved through sympathy, may integrate and complement today’s evolutionary biology and experimental economic explanations, providing the missing key as to how we generate and internalize those rules of conduct that promote fair and cooperative behaviors.

Keywords: Cooperation with Strangers, Adam Smith, Vernon Smith, Sympathy

JEL Classification: B12, B30, C7, C90, D03, P0, Z1

Suggested Citation

Paganelli, Maria Pia, The Same Face of the Two Smiths: Adam Smith and Vernon Smith (May 12, 2011). Journal of Economic Behavior & Organization, Vol. 78, pp. 246-255, 2011, Available at SSRN: https://ssrn.com/abstract=1839809

Maria Pia Paganelli (Contact Author)

Trinity University ( email )

Dept. of Economics
One Trinity Place
San Antonio, TX 78212
United States

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