According to standard theory founded on Harsanyi (1953, 1955) a social welfarefunction can be appropriately based on the individual's approach to choice underuncertainty. We investigate whether people really do rank distributions according tothe same principles irrespective of whether the comparison involves money payoffs ina risky situation or the distribution of income among persons. We use a questionnaireexperiment to focus on the two different interpretations of the Harsanyi approach.There are important, systematic differences that transcend the cultural background ofrespondents.
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Find related papers by JEL classification: C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Estimation D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
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