Preference reversals and the analysis of income distributions

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

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

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 highincome 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)
JEL-codes: C91 D63 D81 (search for similar items in EconPapers)
Pages: 39 pages
Date: 2003-03
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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http://eprints.lse.ac.uk/2144/ Open access version. (application/pdf)

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:ehl:lserod:2144

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