Preference reversals and the analysis of income distributions
AbstractIt 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.
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Bibliographic InfoArticle provided by Springer in its journal Social Choice and Welfare.
Volume (Year): 30 (2008)
Issue (Month): 2 (February)
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Web page: http://link.springer.de/link/service/journals/00355/index.htm
Other versions of this item:
- Yoram Amiel & Frank A Cowell & Leima Davidovitz & Avraham Polovin, 2003. "Preference Reversals and the Analysis of Income Distributions," STICERD - Distributional Analysis Research Programme Papers 66, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
- Yoram Amiel & Frank Cowell & Leima Davidovitz & Avraham Polovin, 2003. "Preference reversals and the analysis of income distributions," LSE Research Online Documents on Economics 2144, London School of Economics and Political Science, LSE Library.
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
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