ABSTRACT
Economics is a discipline that has repeatedly thrown up questions that are deeply anchored in social phenomena. Of the different types of other-regarding behaviour that are modelled, the most interesting is altruism, i.e.- intrinsically motivated voluntary actions, intended to benefit another; acts motivated by concern for others or by internalized values, goals, and self-rewards rather than by the expectation of concrete or social rewards or the avoidance of punishment. The field of experimental economics (not to mention experimental social psychology) stands at the centre of this debate on observed behavioural deviations from rational theoretical predictions. Contrary to the rationality and selfish-interest-serving assumptions about human behaviour in classical economics, human beings often behave in an altruistic manner, and sacrifice some of their own well-being to help others or punish individuals who are selfish.
