What’s the Monetary Value of Distributive Justice?

Giacomo Corneo and Christina M. Fong

No 1706, CESifo Working Paper Series from CESifo

Abstract: This paper proposes a model that can be implemented to estimate the willingness to pay for distributive justice. A formula is derived that allows one to recover the willingness to pay for distributive justice from the estimated coefficients of a probit regression and fiscal data. Using this formula and data from a 1998 Gallup Social Audit, we find that the monetary value of justice in the United States is about one fifth of GDP. We find no evidence that the value of justice varies across types of people.

Keywords: distributive justice; governmental redistribution; fairness (search for similar items in EconPapers)
JEL-codes: D63 H24 (search for similar items in EconPapers)
Date: 2006
New Economics Papers: this item is included in nep-pbe and nep-pub
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Related works:
Journal Article: What's the monetary value of distributive justice (2008)
Working Paper: What´s the monetary value of distributive justice (2007)
Working Paper: What's the monetary value of distributive justice? (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_1706

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