On the inefficiency of inequality
"A number of studies have examined the implications of preference interdependence. This paper models utility as depending on other people's consumption levels and shows that welfare declines with inequality, equilibrium inequality is inefficient, and the optimal intervention leads to a mor...
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| Format: | eBook |
| Language: | English |
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Bonn, Germany
IZA
2004
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| Series: | Discussion paper
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| Online Access: | |
| Collection: | World Bank E-Library Archive - Collection details see MPG.ReNa |
| Summary: | "A number of studies have examined the implications of preference interdependence. This paper models utility as depending on other people's consumption levels and shows that welfare declines with inequality, equilibrium inequality is inefficient, and the optimal intervention leads to a more equal distribution"--Forschungsinstitut zur Zukunft der Arbeit web site |
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| Item Description: | Includes bibliographical references. - Title from PDF file as viewed on 5/4/2005 |