Are People Willing to Pay to Reduce Others'Incomes?

Daniel Zizzo and Andrew Oswald

Annals of Economics and Statistics, 2001, issue 63-64, 39-65

Abstract: This paper studies utility interdependence in the laboratory: subjects can pay to reduce ("burn") other subjects' money. Most of them do. The price elasticity of burning is mostly less than unity. There is a strong correlation between wealth, or rank, and the amounts by which subjects are burnt. Many burners, especially disadvantaged ones, care about whether another person "deserves" the money he has. Deservingness is not simply a matter of relative payoff.

Date: 2001
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Working Paper: Are People Willing to Pay to Reduce Others’ Incomes? (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:adr:anecst:y:2001:i:63-64:p:39-65

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