Inequality Aversion, Efficiency, and Maximin Preferences in Simple Distribution Experiments

Dirk Engelmann and Martin Strobel

No 15, Research Memorandum from Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT)

Abstract: We present simple one-shot distribution experiments comparing the relative im-portanceof efficiency, maximin preferences and inequality aversion, as well asthe relative performance of the fairness theories by Bolton and Ockenfels (2000)and Fehr and Schmidt (1999). While the Fehr and Schmidt model performsbetter in a direct comparison, this appears to be due to being in line with max-iminpreferences. More importantly, we find that the influence of both efficiencyand maximin preferences is stronger than that of inequality aversion. We discusspotential implications our results might have for the interpretation of otherexperiments.

Keywords: economics of technology (search for similar items in EconPapers)
Date: 2002
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Citations: View citations in EconPapers (16)

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Journal Article: Inequality Aversion, Efficiency, and Maximin Preferences in Simple Distribution Experiments (2004)
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