This paper surveys recent experimental and field evidence on the impact of concerns for fairness, reciprocity and altruism on economic decision making. It also reviews some new theoretical attempts to model the observed behavior.

This paper tests whether strategic uncertainty employs circuits in the brain that encode risk and utility, or circuits that are involved in Theory of Mind (ToM). We compare participants’ decisions in a stag-hunt game with an equivalent choice between Bernoulli lotteries where the probabilities...