Economic and Sociological Accounts of Social Norms

Abstract Classifying accounts of institutionalized social norms that rely on individual rule-following as ‘sociological’ and accounts based on individual opportunity-seeking behavior as ‘economic’, the paper rejects purely economic accounts on theoretical grounds. Explaining the realworkings of institutionalized social norms and social order exclusively in terms of self-regarding opportunityseeking individual behavior is impossible. An integrated sociological approach to the so-called Hobbesian problem of social order that incorporates opportunityseeking along with rule-following behavior is necessary. Such an approach emerges on the horizon if economic methods are put to good sociological use on the basis of recent experimental economic findings on rule-following behavior.