Gamblers hate inequality: evidence from China
AbstractTwo gambles are presented in this article along with two treatments which allow us to test for inequality aversion without having to consider risk aversion. This work complements existing studies by extending it to the gambling environment. In gambling decisions made from a ‘losses from an initial endowment’ approach, we find that regardless of whether out-of-pocket losses are an issue, both Chinese male and female students bet less when they know that losses will be distributed to the winners of gambles with excessive winnings.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics Letters.
Volume (Year): 19 (2012)
Issue (Month): 12 (August)
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