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Redistributive Politics and Market Efficiency: An Experimental Study

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  • Großer, Jens

    (Florida State University)

  • Reuben, Ernesto

    (New York University, Abu Dhabi)

Abstract

We study the interaction between competitive markets that produce large but unequally distributed welfare gains and elections through which the poor majority can redistribute income away from the rich minority. In our simple laboratory democracy, subjects first earn their income by trading in a double auction market and thereafter vote on redistributive policies in two-candidate elections. In addition, in one of the treatments subjects can attempt to influence the candidates’ policy choices by transferring money to them. We observe very high levels of redistribution – even when transfers to candidates are possible – with little effect on market efficiency. Overall, the experimental results are explained by our equilibrium predictions.

Suggested Citation

  • Großer, Jens & Reuben, Ernesto, 2009. "Redistributive Politics and Market Efficiency: An Experimental Study," IZA Discussion Papers 4549, Institute of Labor Economics (IZA).
    • Handle: RePEc:iza:izadps:dp4549
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    1. Oskar Nupia, 2017. "Income Taxes, Political Accountability and Public Goods Provision," Documentos CEDE 15835, Universidad de los Andes, Facultad de Economía, CEDE.
    2. Doerrenberg, Philipp & Duncan, Denvil, 2014. "Tax Incidence in the Presence of Tax Evasion," IZA Discussion Papers 8137, Institute of Labor Economics (IZA).
    3. Dmitry Ryvkin & Anastasia Semykina, 2017. "An experimental study of democracy breakdown, income and inequality," Experimental Economics, Springer;Economic Science Association, vol. 20(2), pages 420-447, June.
    4. Agranov, Marina & Palfrey, Thomas R., 2015. "Equilibrium tax rates and income redistribution: A laboratory study," Journal of Public Economics, Elsevier, vol. 130(C), pages 45-58.
    5. Loukas Dalafoutas & Martin G. Kocher & Louis Putterman & Matthias Sutter, 2010. "Equality, Equity and Incentives: An Experiment," Working Papers 2010-13, Brown University, Department of Economics.
    6. Sascha Baghestanian & Paul Gortner & Baptiste Massenot, 2017. "Compensation schemes, liquidity provision, and asset prices: an experimental analysis," Experimental Economics, Springer;Economic Science Association, vol. 20(2), pages 481-505, June.
    7. Deffains, Bruno & Espinosa, Romain & Thöni, Christian, 2016. "Political self-serving bias and redistribution," Journal of Public Economics, Elsevier, vol. 134(C), pages 67-74.
    8. Höchtl, Wolfgang & Sausgruber, Rupert & Tyran, Jean-Robert, 2012. "Inequality aversion and voting on redistribution," European Economic Review, Elsevier, vol. 56(7), pages 1406-1421.
    9. Dmitry Ryvkin & Anastasia Semykina, 2015. "The chicken or the egg: An experimental study of democracy survival, income, and inequality," Working Papers wp2015_11_01, Department of Economics, Florida State University.
    10. Anke Gerber & Andreas Nicklisch & Stefan Voigt, 2013. "Strategic Choices for Redistribution and the Veil of Ignorance: Theory and Experimental Evidence," CESifo Working Paper Series 4423, CESifo.
    11. Balafoutas, Loukas & Kocher, Martin G. & Putterman, Louis & Sutter, Matthias, 2013. "Equality, equity and incentives: An experiment," European Economic Review, Elsevier, vol. 60(C), pages 32-51.
    12. Romain Espinosa & Bruno Deffains & Christian Thöni, 2020. "Debiasing preferences over redistribution: an experiment," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 55(4), pages 823-843, December.
    13. Christos Bilanakos, 2012. "Consumers’ Heterogeneity, Publicness of Goods and the Size of Public Sector," University of Cyprus Working Papers in Economics 18-2012, University of Cyprus Department of Economics.
    14. Fabio Galeotti & Reuben Kline & Raimondello Orsini, 2014. "When Foul Play Seems Fair: Dishonesty as a Response to Violations of Just Deserts," Post-Print halshs-02467507, HAL.
    15. Sausgruber, Rupert & Tyran, Jean-Robert, 2014. "Discriminatory taxes are unpopular—Even when they are efficient and distributionally fair," Journal of Economic Behavior & Organization, Elsevier, vol. 108(C), pages 463-476.
    16. Guenther, Isabel & Tetteh-Baah, Samuel Kofi, 2019. "The impact of discrimination on redistributive preferences and productivity: experimental evidence from the United States," VfS Annual Conference 2019 (Leipzig): 30 Years after the Fall of the Berlin Wall - Democracy and Market Economy 203652, Verein für Socialpolitik / German Economic Association.
    17. Gerber, Anke & Nicklisch, Andreas & Voigt, Stefan, 2019. "The role of ignorance in the emergence of redistribution," Journal of Economic Behavior & Organization, Elsevier, vol. 163(C), pages 239-261.
    18. Gürdal, Mehmet Y. & Torul, Orhan & Vostroknutov, Alexander, 2020. "Norm compliance, enforcement, and the survival of redistributive institutions," Journal of Economic Behavior & Organization, Elsevier, vol. 178(C), pages 313-326.
    19. Tetteh-Baah, Samuel Kofi & Günther, Isabel, 2020. "The impact of gender and ethnic discrimination on redistribution and productivity," VfS Annual Conference 2020 (Virtual Conference): Gender Economics 224633, Verein für Socialpolitik / German Economic Association.
    20. Tina Haussen, 2018. "Intra-Household Income Inequality and Preferences for Redistribution," Jena Economics Research Papers 2018-004, Friedrich-Schiller-University Jena.
    21. Tina Haussen, 2019. "Intra-household income inequality and preferences for redistribution," Review of Economics of the Household, Springer, vol. 17(2), pages 499-530, June.
    22. Paetzel, Fabian & Lorenz, Jan & Tepe, Markus, 2018. "Transparency diminishes framing-effects in voting on redistribution: Some experimental evidence," European Journal of Political Economy, Elsevier, vol. 55(C), pages 169-184.
    23. Sausgruber, Rupert & Tyran, Jean-Robert, 2011. "Are we taxing ourselves?," Journal of Public Economics, Elsevier, vol. 95(1), pages 164-176.
    24. Lefgren, Lars J. & Sims, David P. & Stoddard, Olga B., 2016. "Effort, luck, and voting for redistribution," Journal of Public Economics, Elsevier, vol. 143(C), pages 89-97.
    25. Andreea-Oana Iacobuță & Mihaela Ifrim, 2020. "Welfare Mentality as a Challenge to European Sustainable Development. What Role for Youth Inclusion and Institutions?," Sustainability, MDPI, vol. 12(9), pages 1-25, April.

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    More about this item

    Keywords

    lobbying; redistribution; double auction; elections;
    All these keywords.

    JEL classification:

    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • D41 - Microeconomics - - Market Structure, Pricing, and Design - - - Perfect Competition
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • D73 - Microeconomics - - Analysis of Collective Decision-Making - - - Bureaucracy; Administrative Processes in Public Organizations; Corruption

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