On Being Inequality Averse: Measurement and Behavioral Characterization

Luciano Andreozzi

No 2019/10, DEM Working Papers from Department of Economics and Management

Abstract: We extend Karni and Safra (2002a) axiomatic model of procedural jus- tice to provide a behavioral characterization of aversion to ex-post in- equality. Our characterization distinguishes ex-post inequality aversion from other ’social’ motives like altruism and is independent from atti- tudes towards risk. It allows for violations of the independence axiom to make room for ex-ante inequality aversion and, more generally, proce- dural justice. Our axiomatic model naturally lends itself to measure the strength of aversion to ex-post inequality.

Keywords: Indirect inference; directional statistics; stable distribution; weighting matrix (search for similar items in EconPapers)
JEL-codes: D63 D64 D81 (search for similar items in EconPapers)
Date: 2019
New Economics Papers: this item is included in nep-mic, nep-ore and nep-upt
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Persistent link: https://EconPapers.repec.org/RePEc:trn:utwprg:2019/10

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