Higher income is associated with greater well-being, but do income gains and losses impact on well-being differently … falls in income have a larger impact on well-being than equivalent income gains. The effect is not explained by the … diminishing returns to well-being of income. Our findings show that loss aversion applies to experienced losses, counteracting …

financial sector, who helped cause the Great Recession and yet were bailed out by the government. Increases in inequality might … would tackle the fundamental causes of the enormous shift in the US income distribution. …

due to labor income taxation. Additional literature is motivated by the possibility that distributive concerns should …

effects on state income growth, state policies, and the quality of Governors. …