Showing 1 - 10 of 555
What is inequality in health? Are economists' standard tools for measuring income inequality relevant or useful for … measuring it? Does income protect health and does income inequality endanger it? I discuss two different concepts of health … inequality, whether within groups or between them, has no effect on average health. Even so, the slope of the relationship …
Persistent link: https://www.econbiz.de/10013220524
In cross-sectional studies, countries with greater income inequality typically exhibit less support for government …-led redistribution and greater acceptance of wage inequality (e.g., United States versus Western Europe). If individual nations evolve … along this pattern, a vicious cycle could form with reduced social concern amplifying primal increases in inequality due to …
Persistent link: https://www.econbiz.de/10013113154
suggests fairly low (even zero) levels of contributions to the public good and high levels of free riding. Experiments and … sustain cooperation (regardless of the nature of preferences). An example drawn from experiments is provided as an …
Persistent link: https://www.econbiz.de/10013125580
party. Examples include business gifts of firms and lobbyists. In a series of experiments, we show that, even without …
Persistent link: https://www.econbiz.de/10013097778
Attempting to shed light on the optimal size of government, economists have analyzed planning problems that specify a set of feasible taxation-spending policies and a social welfare function. The analysis characterizes the optimal policy choice of a planner who knows the welfare achieved by each...
Persistent link: https://www.econbiz.de/10013104080
welfare weights. Weights directly capture society's concerns for fairness allowing us to cleanly separate individual utilities …
Persistent link: https://www.econbiz.de/10013086297
Europe's debt crisis resembles historical episodes of outright default on domestic public debt about which little research exists. This paper proposes a theory of domestic sovereign default based on distributional incentives affecting the welfare of risk-averse debt- and non-debt holders. A...
Persistent link: https://www.econbiz.de/10013075417
Should a social planner treat observationally identical persons identically? This paper shows that uniform treatment is not necessarily desirable when a planner has only partial knowledge of treatment response. Then there may be reason to implement a fractional treatment rule, with positive...
Persistent link: https://www.econbiz.de/10012784221
We face a variety of potential catastrophes; nuclear or bioterrorism, a climate catastrophe, and a "mega-virus" are examples. Martin and Pindyck (AER 2015) showed that decisions to avert such catastrophes are interdependent, so that simple cost-benefit analysis breaks down. They assumed that...
Persistent link: https://www.econbiz.de/10012957386
We model visibility bias in the social transmission of consumption behavior. When consumption is more salient than non-consumption, people perceive that others are consuming heavily, and infer that future prospects are favorable. This increases aggregate consumption in a positive feedback loop....
Persistent link: https://www.econbiz.de/10012892560