First, we present what is called the Theory of Psychological Preferences (altruism, rational reciprocity...) through, on one side, the list of axioms proposed by Sandbu (2008) for pure individual decisions and, on the other side, that of Segal and Sobel (2007) for strategical ones. Second, we...

We propose to define the invisible hand by (i) modelling the mechanism itself (not to just assume its existence) and (ii) making explicit the limit conditions for its working. For that purpose, we simply assimilate the working of the invisible hand mechanism to the existence of a social...

This paper aims at proving that social interactions can easily be rationalized by individual preferences as defined in standard microeconomic theory. For that purpose, we show individual choice rationality to be logically equivalent to social consistency, when individual rationality means that...