Risk and Inequality Perceptions

We examine the relationship between risk analysis and inequality analysis, using a questionnaire-experimental approach .The experiments focus on the effect of income transformations on the perceived rankings of income distributions in either a risk or inequality context. Both context and income levels are important in influencing rankings.Risk, Inequality, Income transformations.

Inequality, Welfare and Monotonicity

We establish a general relationship between the standard form of the individualistic social-welfare function and the ?reduced-form? version that is expressed in terms of inequality and mean income. This shows the relationship between the property of monotonicity and the slope of the equity-efficiency trade-off. Particularly simple results are available for a large class of inequality measures that includes the Gini. These results do not require differentiability of the social welfare function.Inequality, social welfare monotonicity

Attitudes towards Risk and Inequality: A Questionnaire-Experimental Approach

Orderings of income distribution in terms of inequality should be closely related to orderings in terms of risk. Using a novel mult-country questgionnaire experiment we examine the basis for this claim in terms of respondents' distributional perceptions. We show that in terms of both inequality and risk individuals consistently reject one of the standard axioms of distributional comparison. Moreover, there are significant differences in the 'maps' of inequality and risk comparisons. Rejection of the orthodox approach is less likely to occur when distributional comparisons involve extremes of the distributions.We show that certain key background variables are overwhelmingly important in predisposing individuals toward acceptance or rejection of the orthodox basis for distributional comparisons. This paper forms part of the research programme of the TMR network Living Standards, Inequality and Taxation [Contract No. ERBFMRXCT 980248] of the European Communities whose financial support is gratefully acknowledged.Inequality, risk, experiment, transfer principle.

On the Measurement of Polarisation:A questionnaire study

Starting from the axiomatisation of polarisation contained in Esteban and Ray (1994)and Chakravarty and Majumdar (2001) we investigate whether people's perceptionsof income polarisation is consistent with the key axioms. This is carried out using aquestionnaire-experimental approach that combines both paper questionnaires and onlineinteractive techniques. The responses suggest that important axioms which serveto differentiate polarisation from inequality - e.g. increased bipolarisation - as well asother distinctive features of polarisation, i.e. the non-monotonous behaviour attributedto polarisation, are not widely accepted.polarisation, income distribution, inequality

To Be or not To Be Involved:A Questionnaire-Experimental View on Harsanyi’sUtilitarian Ethics

According to standard theory founded on Harsanyi (1953, 1955) a social welfarefunction can be appropriately based on the individual's approach to choice underuncertainty. We investigate whether people really do rank distributions according tothe same principles irrespective of whether the comparison involves money payoffs ina risky situation or the distribution of income among persons. We use a questionnaireexperiment to focus on the two different interpretations of the Harsanyi approach.There are important, systematic differences that transcend the cultural background ofrespondents.Impartial observer theorem, utilitarianism, welfare.

Distributional Orderings: An Approach with Seven Flavours

We examine individuals' distributional orderings in a number of contexts. This is done by using a questionnaire-experiment that is presented to respondents in any one of seven "flavours" or interpretations of the basic distributional problem. The flavours include inequality, risk, social welfare and justice. The issue of personal involvement in the distributional comparison is explicitly addressed.social welfare, inequality, justice, risk, questionnaire experiments.

Basal Insulin Regimens for Adults with Type 1 Diabetes Mellitus : A Cost-Utility Analysis

Copyright © 2017 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.OBJECTIVES: To assess the cost-effectiveness of basal insulin regimens for adults with type 1 diabetes mellitus in England. METHODS: A cost-utility analysis was conducted in accordance with the National Institute for Health and Care Excellence reference case. The UK National Health Service and personal and social services perspective was used and a 3.5% discount rate was applied for both costs and outcomes. Relative effectiveness estimates were based on a systematic review of published trials and a Bayesian network meta-analysis. The IMS CORE Diabetes Model was used, in which net monetary benefit (NMB) was calculated using a threshold of £20,000 per quality-adjusted life-year (QALY) gained. A wide range of sensitivity analyses were conducted. RESULTS: Insulin detemir (twice daily) [iDet (bid)] had the highest mean QALY gain (11.09 QALYs) and NMB (£181,456) per patient over the model time horizon. Compared with the lowest cost strategy (insulin neutral protamine Hagedorn once daily), it had an incremental cost-effectiveness ratio of £7844/QALY gained. Insulin glargine (od) [iGlarg (od)] and iDet (od) were ranked as second and third, with NMBs of £180,893 and £180,423, respectively. iDet (bid) remained the most cost-effective treatment in all the sensitivity analyses performed except when high doses were assumed (>30% increment compared with other regimens), where iGlarg (od) ranked first. CONCLUSIONS: iDet (bid) is the most cost-effective regimen, providing the highest QALY gain and NMB. iGlarg (od) and iDet (od) are possible options for those for whom the iDet (bid) regimen is not acceptable or does not achieve required glycemic control.Peer reviewe

Preference Reversals and the Analysis of Income Distributions

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 high-income people. Results from a number of experimental designs are analysed.Preference reversals, social welfare, inequality, risk and experiments.

Self-Focusing Dynamics of Coupled Optical Beams

We theoretically and experimentally investigate the mutual collapse dynamics of two spatially separated optical beams in a Kerr medium. Depending on the initial power, beam separation, and the relative phase, we observe repulsion or attraction, which in the latter case reveals a sharp transition to a single collapsing beam. This transition to fusion of the beams is accompanied by an increase in the collapse distance, indicating the effect of the nonlinear coupling on the individual collapse dynamics. Our results shed light on the basic nonlinear interaction between self-focused beams and provide a mechanism to control the collapse dynamics of such beams.Comment: 5 pages, 4 figure