It is a concept in social psychology that tells us what whether an agent will allocate the rewards only to itself or to others as well. Knowing the social value orientation of an agent will help us determine whether that agent will take actions that benefits itself or others as well. SVOs are reresented as \(\psi\) in radians.
Some common SVO’s are:
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Altruistic: They only consider other people’s reward without caring about their own. \(\psi = \dfrac{\pi}{4}\)
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Prosocial: They takes actions that benefits the group. Their SVO is usually \(\psi = \dfrac{\pi}{4}\)
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Egoistic: They takes actions that only benefits themselves. Whether their actions harm or benefits others is of little concern to them. \(\psi = 0\).
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Competitive: Competitive agents maximize their relative gains over others. \(\psi = -\dfrac{\pi}{4}\)