Gamblers hate inequality: evidence from China

Roland Cheo

Applied Economics Letters, 2012, vol. 19, issue 12, 1139-1142

Abstract: Two gambles are presented in this article along with two treatments which allow us to test for inequality aversion without having to consider risk aversion. This work complements existing studies by extending it to the gambling environment. In gambling decisions made from a ‘losses from an initial endowment’ approach, we find that regardless of whether out-of-pocket losses are an issue, both Chinese male and female students bet less when they know that losses will be distributed to the winners of gambles with excessive winnings.

Date: 2012
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DOI: 10.1080/13504851.2011.581200

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