Preference reversals and the analysis of income distributions

Amiel, Yoram, Cowell, Frank, Davidovitz, Leima and Polovin, Avraham (2003) Preference reversals and the analysis of income distributions. Distributional Analysis Research Programme; DARP 66, 66. Suntory and Toyota International Centres for Economics and Related Disciplines, London School of Economics and Political Science, London, UK.

Preview

PDF Download (533Kb) | Preview

Abstract

It is known from the literature on uncertainty that in cases where individuals express a preference for a high win-probability bet over a bet with high winnings they nevertheless will bid more to obtain the bet with high winnings. We investigate whether a similar phenomenon applies in the parallel social-choice situation. Here decisions are to be made between a distribution with a small group of very highincome people. Results from a number of experimental designs are analysed.

Item Type:	Monograph (Discussion Paper)
Official URL:	http://sticerd.lse.ac.uk
Additional Information:	© 2003 by the authors
Uncontrolled Keywords:	Preference reversals, Social welfare, Inequality, Risk and Experiments
Library of Congress subject classification:	H Social Sciences > HB Economic Theory
Journal of Economic Literature Classification System:	D - Microeconomics > D8 - Information, Knowledge, and Uncertainty > D81 - Criteria for Decision-Making under Risk and Uncertainty C - Mathematical and Quantitative Methods > C9 - Design of Experiments > C91 - Laboratory, Individual Behavior 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/rights/LSERO.htm
Identification Number:	66
URL:	http://eprints.lse.ac.uk/2144/

Actions (login required)

Record administration - authorised staff only