Preference Reversals and the Analysis of Income Distributions

Yoram Amiel, Frank Cowell (), Leima Davidovitz and Avraham Polovin

STICERD - Distributional Analysis Research Programme Papers from Suntory and Toyota International Centres for Economics and Related Disciplines, LSE

Abstract: It is known from the literature on uncertainty that in cases where individuals express a preference for a high win-probability bet over a bet with high winnings they nevertheless will bid more to obtain the bet with high winnings. We investigate whether a similar phenomenon applies in the parallel social-choice situation. Here decisions are to be made between a distribution with a small group of very high-income people. Results from a number of experimental designs are analysed.

Keywords: Preference reversals; social welfare; inequality; risk and experiments. (search for similar items in EconPapers)
Date: 2003-03
New Economics Papers: this item is included in nep-exp
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Citations: View citations in EconPapers (2)

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Related works:
Journal Article: Preference reversals and the analysis of income distributions (2008)
Working Paper: Preference reversals and the analysis of income distributions (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:cep:stidar:66

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