selfregarding

Self-regarding describes actions or preferences whose primary impact is on the actor's own welfare. In moral philosophy and economics, it contrasts with other-regarding concerns, which are about the welfare of others.

In ethics, debates about self-regarding actions explore whether individuals have moral obligations to others or whether self-interest is legitimate or even central. Some theories, such as psychological egoism, claim all actions are motivated by self-interest, while others endorse ethical egoism as ethically permissible or required. These discussions are often contrasted with altruism and other-regarding duties.

In economics and game theory, self-regarding preferences are modeled as utility functions that depend only on one's own consumption and payoffs. Many models assume self-regarding agents, but empirical work documents other-regarding preferences such as altruism, fairness, or spite, leading to theories of altruism, inequality aversion (e.g., Fehr–Schmidt), and reciprocity-based models.

Examples of self-regarding actions include choices to save money, pursue personal health, or engage in risk-taking for personal benefit. Actions commonly described as other-regarding include charitable donations or decisions that primarily affect others' welfare. In public policy, the distinction helps analyze externalities: even self-regarding actions can impose positive or negative effects on others, which may justify regulation or subsidies.

See also: altruism; other-regarding preferences; egoism; moral philosophy; externality; utilitarianism.