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Preference reversals and the analysis of income distributions

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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.

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en

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application/pdf

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http://eprints.lse.ac.uk/2144/1/Preference_Reversals_and_the_Analysis_of_Income_Distributions.pdf

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