The Great Alaskan Money Give Away Program
For the past six years, the state of Alaska has engaged in a unique program in which annual direct cash distributions have been made to the populace. These distributions represent in a sense dividend payments made to citizens on their individual shares of Alaska's mineral wealth. This paper provides a historic perspective of the Alaska dividend distribution program and examines actual distributions to determine whether they are consistent with utility maximization. The authors find that either a dramatic change in preferences took place over the past six years or that distributions are inconsistent with intertemporal utility maximization. Copyright 1990 by Oxford University Press.
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Volume (Year): 28 (1990)
Issue (Month): 3 (July)
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