Emerging fields such as the social, affective, and cognitive neurosciences have focused on the questions of how people relate to and understand each other. Hereby, the ability for cognitive perspective taking is differentiated from concepts of emotion contagion, empathy, and compassion; the former represents a cognitive route to the understanding of others, the latter a motivational and affective route. Humans often judge the states of other people egocentrically, assuming that others will feel or think similar to them. Such an emotional egocentricity bias (EEB) occurs frequently in situations when others feel differently to oneself. In my talk I will present data regarding the neural development underlying social emotions and economic deci...