Reciprocity: An Economics of Social Relations(Federico Caffe Lectures)

Reciprocity is the basis of social relations. It permits a peaceful and free society in which people and rights are respected. The essence of families and communities, it also enables the working of markets and organisations, while correcting their main failures. Reciprocity is also a basis of politics, and it justifies social policies. Although the importance of reciprocity has been widely recognised in other social sciences, it has, until recently, been somewhat ignored in economic analysis. Over the past three decades, economic theorist and moral philosopher Serge-Christophe Kolm has been at the forefront of research into the economics of the deepest aspects of societies. In Reciprocity, he provides a unique in-depth analysis of the motives, conducts, and effects of reciprocal relationships. In doing this, he explains crucial functionings of society and its economy, and the ways in which they can be improved. This book should be read by economists, sociologists, philosophers, and anyone concerned with understanding the economy of social relationships and its far-reaching consequences.

Table of Contents:
List of figures; Foreword; Part I. Facts and Forms: 1. Presentation; 2. Evidence and scope; 3. Giving and exchanges; 4. Forms and structures of reciprocity; Part II. Motives: 5. The three worlds of reciprocity; 6. Balance reciprocity; 7. Liking reciprocities; 8. Other reciprocities: continuation, relational, imitation, extended; 9. Reciprocity and social sentiments; 10. Reciprocity in the modes of economic realisation; Part III. Values and Reasons: 11. The values of reciprocity; 12. Reciprocal corrections of market failures; 13. Reciprocity in trust, and intrinsic values; 14. Normative uses of reciprocity; 15. The logic of good social relations; 16. How and why? Understanding and explaining reciprocity; Part IV. The Economics of Reciprocity: 17. General methodology of reciprocity analysis; 18. The theory of comparative, matching, or balance reciprocity; 19. The theory of liking reciprocity; 20. Strategic interaction and process preferences; 21. General properties about processes; 22. Solutions of reciprocity games - comparisons; 23. Reciprocity in the understanding of society and its economy; References and bibliography.

About the Author :
Serge-Christophe Kolm is Professor of Economics at the Ecole des Hautes Etudes en Sciences Sociales, Paris.

Review :
Advance praise: 'Over the last forty years Serge-Christophe Kolm has produced a body of writings that show him to be one of the most creative and profound economists of our day. In his ability to go the core of the matter - whatever it is - he has few equals. In Reciprocity he offers the fullest analysis of the topic to date, by any social scientist - a true summa.' Jon Elster, College de France Advance praise: 'Serge-Christophe Kolm has always defended a broad approach to economics, in which human beings are motivated by more than narrow self-interest. He emphasized the crucial role of reciprocity in a good economy, long before that idea became fashionable in economics. This new book builds on his earlier work. It contains many deep and original ideas and is essential reading for everybody who wants to put the recent literature on reciprocity in a broader perspective.' Erik Schokkaert, Catholic University of Leuven Advance praise: 'Kolm's book is an ambitious assessment and deep analysis of reciprocity as a set of motivationally interrelated gifts. It adopts a transdisciplinary approach based on economics, psychology and moral philosophy to explain the economic and social effects of reciprocity - not only its logical structure but also its various manifestations. The author has to be credited for his unflinching insistence that economic science go beyond the limits imposed by a model of individual choice, which pretends that all types of social relations can be modelled as some variant of relations of exchange of equivalents. The closely knit narrative tells a fascinating story that fills an important gap in present-day economic literature.' Stefano Zamagni, University of Bologna