Work

Measuring Future Grandparents' Preferences for Equality and Relative Standing

Year: 2002

Type: article

Abstract: Individuals' aversion to risk and inequality, and their concern for relative standing, are measured through experimental choices between hypothetical societies. It is found that, on average, individuals are both fairly inequality‐averse and have a strong concern for relative income. The results are used to illustrate welfare consequences based on a utilitarian SWF and a modified CRRA utility function. It is shown that the social marginal utility of income may then become negative, even at income levels that are far from extreme.

Source: The Economic Journal

DOI: 10.1111/1468-0297.00040

Authors: Olof Johansson‐Stenman, Fredrik Carlsson, Dinky Daruvala

Institution: University of Gothenburg

Language: English

Topic: Experimental Behavioral Economics Studies

Subfield: Safety Research

Field: Social Sciences

Domain: Social Sciences

SDG: Reduced inequalities

Open Access status: green

OpenAlex ID: W2092445911

FWCI: 39.69

Cites: 44

Cited by: 379

Related to: 20