People care about relative, and not only absolute, income. This paper investigates the importance of relative income within and between castes in the Indian caste system, using a choice experimental approach. The results indicate that slightly more than half of the marginal utility of income...

Social inequality aversion is measured through a veil-of-ignorance experiment with Indian students. The median relative risk aversion is found to be quite high, about 3, and independent caste.

We investigate the importance of relative income within the Indian Caste system, using a choice experiment. We find that slightly more than half of the marginal utility of income comes from some kind of relative income effects, on average, which is comparable to the results from previous studies...

People care about relative, and not only absolute, income. This paper investigates the importance of relative income within and between castes in the Indian caste system, using a choice experimental approach. The results indicate that slightly more than half of the marginal utility of income...