How Did Distributional Preferences Change During the Great Recession?

Raymond Fisman, Pamela Jakiela and Shachar Kariv

No 20146, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We compare behavior in experiments measuring distributional preferences during the "Great Recession" to behavior in identical experiments conducted during the preceding economic boom. Subjects are drawn from a diverse pool of students whose socioeconomic composition is largely held constant by the university, mitigating concerns about differential selection across macroeconomic conditions. Subjects exposed to the recession are more selfish and more willing to sacrifice equality to enhance efficiency. Reproducing recessionary conditions inside the laboratory by confronting subjects with losses has the same impact on distributional preferences, bolstering the interpretation that economic circumstances, rather than other factors, are driving our results.

JEL-codes: C79 C91 D63 D64 (search for similar items in EconPapers)
Date: 2014-05
New Economics Papers: this item is included in nep-exp
Note: PE POL
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Citations: View citations in EconPapers (12)

Published as Fisman, Raymond & Jakiela, Pamela & Kariv, Shachar, 2015. "How did distributional preferences change during the Great Recession?," Journal of Public Economics, Elsevier, vol. 128(C), pages 84-95.

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Journal Article: How did distributional preferences change during the Great Recession? (2015)
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