Preference reversals and the analysis of income distributions

It is known from the literature on uncertainty that in cases where individuals express a preference for a high win-probability bet over a bet with high winnings they nevertheless will bid more to obtain the bet with high winnings. We investigate whether a similar phenomenon applies in the parallel social-choice situation. Here decisions are to be made between a distribution with a small group of very highincome people. Results from a number of experimental designs are analysed.

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Year of publication:	2003-03
Authors:	Amiel, Yoram ; Cowell, Frank ; Davidovitz, Leima ; Polovin, Avraham
Institutions:	London School of Economics (LSE)
Subject:	Preference reversals \| Social welfare \| Inequality \| Risk and Experiments

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Extent:	application/pdf
Series:	LSE Research Online Documents on Economics.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series Distributional Analysis Research Programme; DARP 66, 66 39 pages
Classification:	D81 - Criteria for Decision-Making under Risk and Uncertainty ; C91 - Laboratory, Individual Behavior ; D63 - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010928778