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Journal of Economic Psychology, 2016
We provide the first systematic study of the robustness of parameter estimates for the Fehr-Schmidt (1999) model of inequity aversion with respect to (i) the occurrence of efficiency concerns; (ii) the scale of payoffs; and (iii) the game used (i.e., cross-game consistency).
Yang, Y., Onderstal, S., Schram, A.
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We provide the first systematic study of the robustness of parameter estimates for the Fehr-Schmidt (1999) model of inequity aversion with respect to (i) the occurrence of efficiency concerns; (ii) the scale of payoffs; and (iii) the game used (i.e., cross-game consistency).
Yang, Y., Onderstal, S., Schram, A.
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Inequality Aversion versus Risk Aversion
Economica, 2003Inequality aversion and risk‐aversion are widely assumed in economic models; however existing economic literature fails to distinguish between the two. This paper presents methodology and a laboratory experiment, which separates inequality aversion from risk aversion.
Yoram Kroll, Liema Davidovitz
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Inequality‐averse well‐being measurement
International Journal of Economic Theory, 2018AbstractWe construct individual well‐being measures that respect individual preferences and depend on the bundles of goods consumed by the individual. Building on previous work in which general families of well‐being measures are identified, we introduce basic transfer principles that apply either to bundles or directly to indifference sets, and we ...
Fleurbaey, Marc, Maniquet, François
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Efficient Inequity-Averse Teams
2007This paper analyzes the efficiency of team production when agents exhibit other regarding preferences. It is shown that full efficiency can be sustained as an equilibrium through a budget-balancing mechanism that punishes some randomly chosen agents if output falls short of efficient level but distributes the output equally otherwise, provided that the
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Measuring international inequity aversion [PDF]
, 2008 I measure the rate of aversion to inequality in consumption as expressed in the development aid given by rich countries to poor ones between 1965 and 2005. Over time, OECD countries have become less concerned about international inequity. Even for a fairly leaky bucket, the consumption rate of inequity aversion is less than the rate of risk aversion ...
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Preference for Randomization - Ambiguity Aversion and Inequality Aversion [PDF]
, 2010 In Anscombe and Aumann's (1963) domain, there are two types of mixtures. One is an ex-ante mixture, or a lottery on acts. The other is an ex-post mixture, or a state-wise mixture of acts. These two mixtures have been assumed to be indifferent under the Reversal of Order axiom.
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Choices in Egalitarian Distribution: Inequality Aversion versus Risk Aversion [PDF]
, 1999 Inequality aversion and risk aversion are widely assumed features of economic models. But a review of the literature revealed that inequlity aversion and risk aversion are treated as separate variables. This paper presents exploratory research designed to separate inequality aversion from risk aversion.
Yoram Kroll, Leima Davidovitz
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