Inequality and Risk Aversion in Health and Income: An Empirical Analysis Using Hypothetical Scenarios with Losses

Ignacio Abasolo and Aki Tsuchiya ()

No 2013005, Working Papers from The University of Sheffield, Department of Economics

Abstract: Four kinds of distributional preferences are explored: inequality aversion in health, inequality aversion in income, risk aversion in health, and risk aversion in income. Face to face interviews of a representative sample of the general public are undertaken using hypothetical scenarios involving losses in either health or income. Whilst in health risk aversion is stronger than inequality aversion, in the income context we cannot reject that attitudes to inequality aversion and risk aversion are the same. When we compare across contexts we find that inequality aversion and risk aversion are both stronger in income than they each are in health.

Keywords: inequality; risk aversion; health; income (search for similar items in EconPapers)
JEL-codes: D63 D71 I14 (search for similar items in EconPapers)
Pages: 35 pages
Date: 2013
New Economics Papers: this item is included in nep-exp, nep-hea, nep-pbe and nep-upt
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Persistent link: https://EconPapers.repec.org/RePEc:shf:wpaper:2013005

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