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The Value of Income, Safety and Elections across the World

Author

Listed:
  • Adsera, Alicia

    (Princeton University)

  • Arenas, Andreu

    (University of Barcelona)

  • Boix, Carles

    (Princeton University)

Abstract

We examine how individuals value political and economic goods and institutions through a conjoint experiment in eight countries: Argentina, urban China, India, Mexico, the Philippines, Singapore, South Africa, and the United States. Respondents choose between societies that randomly vary in personal and country income, inequality, social mobility, safety, public healthcare, and free elections. We estimate marginal effects and willingness to pay for outcomes at the country and respondent levels. Valuations of personal and country incomes and safety are similar across countries. By contrast, the value of democracy, defined as free elections, varies substantially. The average Chinese respondent is willing to give up democracy for an increase in individual income equal to one quarter of average country income, whereas the average American would do so only for twice the U.S. average country income. Unlike income and safety, for which most individual-level variation is explained by personal characteristics, variation in preferences for free elections is substantially explained by respondents’ country. Our findings contribute to research on human preferences, demand for democratic institutions, and policy and redistributive preferences.

Suggested Citation

  • Adsera, Alicia & Arenas, Andreu & Boix, Carles, 2026. "The Value of Income, Safety and Elections across the World," IZA Discussion Papers 18844, IZA Network @ LISER.
    • Handle: RePEc:iza:izadps:dp18844
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    JEL classification:

    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • H51 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Health
    • I13 - Health, Education, and Welfare - - Health - - - Health Insurance, Public and Private

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