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Risk Aversion and Other Factors Determine Income Redistribution Preferences

Author

Listed:
  • Manja Gärtner
  • Johanna Mollerstrom

Abstract

The amount of redistribution people favor depends on socioeconomic factors and their views on fairness. This study, based on a representative survey conducted in Sweden, confirms earlier results: Higher incomes are correlated with wanting less redistribution, women are more in favor of redistribution than men on average, and older people favor it more than younger people. People’s views on fairness and altruism also play a role. The study also shows for the first time that individual differences in risk aversion correlate with redistributive preferences. People who shy away from risk tend to wish for more redistribution than people who are more prone to taking risks. The results help us understand which policies are supported by which segments of the population.

Suggested Citation

  • Manja Gärtner & Johanna Mollerstrom, 2018. "Risk Aversion and Other Factors Determine Income Redistribution Preferences," DIW Weekly Report, DIW Berlin, German Institute for Economic Research, vol. 8(17/18), pages 151-156.
    • Handle: RePEc:diw:diwdwr:dwr8-17-1
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    File URL: https://www.diw.de/documents/publikationen/73/diw_01.c.583614.de/dwr-18-17-1.pdf
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    More about this item

    Keywords

    Redistribution; inequality; survey; risk aversion;
    All these keywords.

    JEL classification:

    • C83 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Survey Methods; Sampling Methods
    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies

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