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Inequality aversion for climate policy

Stellio Del Campo (), David Anthoff and Ulrike Kornek

EconStor Preprints from ZBW - Leibniz Information Centre for Economics

Abstract: A sizeable body of literature on climate economics utilizes the notion of inequality aversion. We review and synthesize published estimates of inequality aversion to guide this literature. We review both axiomatic and empirical studies, accordingly our findings draw on different lines of evidence. In the former case, a variety of ethical principles underlie the recommendations for positive inequality aversion. The latter studies use various methods to present estimates based on some form of "revealed ethics," for example by looking at existing progressive income tax-schedules or the level of foreign aid. Here we find strong support for the view that inequality aversion is positive (but potentially small) and very little support for any value larger than three. The vast majority of studies that look at domestic policies support values between one and two, whereas studies that look at foreign aid find lower values ranging from above zero to unity.

Keywords: inequality aversion; marginal valuation of income; Atkinson index; climate change (search for similar items in EconPapers)
JEL-codes: D63 I31 Q54 (search for similar items in EconPapers)
Date: 2021
New Economics Papers: this item is included in nep-ene, nep-env and nep-upt
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:esprep:249036

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