This paper presents an experimental framework for separating the attitude toward inequality from the attitude toward risk. This exploratory experimental study examines the attitude toward inequality while keeping risk constant. The results support the hypothesis of inequality aversion only among...

We investigate whether risk seeking or non-concave utility functions can help to explain the cross-sectional pattern0 of stock returns. For this purpose, we analyze the stochastic dominance efficiency classification of the value-weighted market portfolio relative to benchmark portfolios based on...