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Attitudes towards risk and inequality : a questionnaire-experimental approach

Amiel, Yoram and Cowell, Frank (2000) Attitudes towards risk and inequality : a questionnaire-experimental approach. Distributional Analysis Research Programme; DARP 56, 56. Suntory and Toyota International Centres for Economics and Related Disciplines, London School of Economics and Political Science, London.

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Abstract

Orderings of income distribution in terms of inequality should be closely related to orderings in terms of risk. Using a novel mult-country questgionnaire experiment we examine the basis for this claim in terms of respondents' distributional perceptions. We show that in terms of both inequality and risk individuals consistently reject one of the standard axioms of distributional comparison. Moreover, there are significant differences in the 'maps' of inequality and risk comparisons. Rejection of the orthodox approach is less likely to occur when distributional comparisons involve extremes of the distributions.We show that certain key background variables are overwhelmingly important in predisposing individuals toward acceptance or rejection of the orthodox basis for distributional comparisons. This paper forms part of the research programme of the TMR network Living Standards, Inequality and Taxation [Contract No. ERBFMRXCT 980248] of the European Communities whose financial support is gratefully acknowledged

Item Type: Monograph (Discussion Paper)
Official URL: http://sticerd.lse.ac.uk
Additional Information: © 2000 Yoram Amiel and Frank Cowell
Library of Congress subject classification: H Social Sciences > HB Economic Theory
Journal of Economic Literature Classification System: C - Mathematical and Quantitative Methods > C1 - Econometric and Statistical Methods: General > C13 - Estimation
D - Microeconomics > D6 - Welfare Economics > D63 - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
Sets: Collections > Economists Online
Departments > Economics
Research centres and groups > Suntory and Toyota International Centres for Economics and Related Disciplines (STICERD)
Research centres and groups > Centre for Analysis of Social Exclusion (CASE)
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Identification Number: 56
Date Deposited: 27 Apr 2007
URL: http://eprints.lse.ac.uk/2105/

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