Preference reversals and the analysis of income distributions

Amiel, Yoram, Cowell, Frank ORCID: 0000-0002-3778-2152, 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, UK.

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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
Divisions:	Economics STICERD Centre for Analysis of Social Exclusion
Subjects:	H Social Sciences > HB Economic Theory
JEL classification:	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
Date Deposited:	27 Apr 2007
Last Modified:	11 Dec 2024 18:34
URI:	http://eprints.lse.ac.uk/id/eprint/2144

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