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Preference reversals and the analysis of income distributions

By Yoram Amiel, Frank Cowell, Leima Davidovitz and Avraham Polovin

Abstract

It is known from the literature on uncertainty that in cases where individuals express a preference for a high win-probability bet over a bet with high winnings they nevertheless will bid more to obtain the bet with high winnings. We investigate whether a similar phenomenon applies in the parallel social-choice situation. Here decisions are to be made between a distribution with a small group of very highincome people. Results from a number of experimental designs are analysed

Topics: HB Economic Theory
Publisher: Suntory and Toyota International Centres for Economics and Related Disciplines, London School of Economics and Political Science
Year: 2003
OAI identifier: oai:eprints.lse.ac.uk:2144
Provided by: LSE Research Online

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