If individuals evaluate outcomes relative to the status quo, then a social planner may limit redistribution from rich … know (when we observe near-complete redistribution). Subjects who are themselves risk-seeking over losses drive the effect … suggest that respect for reference points of the wealthy may help explain why voters demand less redistribution than standard …

time-consistency problem in income redistribution. There may be political support for so generous subsidization that it … future lower taxes than without higher education. Therefore, the expansion of participation in higher education during the … income redistribution …