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Inequality aversion in income, health, and income-related health

Inequality aversion in income, health, and income-related health
Inequality aversion in income, health, and income-related health
Based on a survey of a sample of the general public, we estimate inequality aversion across income, health, and bivariate income-health. Inequality aversion is domain specific: mean inequality aversion is greater for income than for health, but the underlying distributions of aversion attitudes differ, with a highly bi-modal distribution of inequality-aversion values for health in which nearly half the participants display very low aversion and nearly half display very high aversion. Aversion to income-related health inequality is greater than that to income or health alone. Consistent with previous literature, we find only weak associations between aversion attitudes and individual characteristics. The magnitude of the estimates implies potentially large gains in welfare from reducing inequality in these domains.
Empirical social choice, Health inequality, Income inequality, Inequality aversion, Social preferences
0167-6296
Hurley, Jeremiah
39ebdd6a-9991-4e9d-b460-37ffefc82f25
Mentzakis, Emmanouil
c0922185-18c7-49c2-a659-8ee6d89b5d74
Walli-Attaei, Marjan
696365ce-54a4-47a5-a8b7-c53d069881c6
Hurley, Jeremiah
39ebdd6a-9991-4e9d-b460-37ffefc82f25
Mentzakis, Emmanouil
c0922185-18c7-49c2-a659-8ee6d89b5d74
Walli-Attaei, Marjan
696365ce-54a4-47a5-a8b7-c53d069881c6

Hurley, Jeremiah, Mentzakis, Emmanouil and Walli-Attaei, Marjan (2020) Inequality aversion in income, health, and income-related health. Journal of Health Economics, 70, [102276]. (doi:10.1016/j.jhealeco.2019.102276).

Record type: Article

Abstract

Based on a survey of a sample of the general public, we estimate inequality aversion across income, health, and bivariate income-health. Inequality aversion is domain specific: mean inequality aversion is greater for income than for health, but the underlying distributions of aversion attitudes differ, with a highly bi-modal distribution of inequality-aversion values for health in which nearly half the participants display very low aversion and nearly half display very high aversion. Aversion to income-related health inequality is greater than that to income or health alone. Consistent with previous literature, we find only weak associations between aversion attitudes and individual characteristics. The magnitude of the estimates implies potentially large gains in welfare from reducing inequality in these domains.

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HurleyMentzakisWall-Attaei_IneqAversion_JHE - Accepted Manuscript
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Accepted/In Press date: 11 December 2019
e-pub ahead of print date: 16 January 2020
Published date: March 2020
Keywords: Empirical social choice, Health inequality, Income inequality, Inequality aversion, Social preferences

Identifiers

Local EPrints ID: 442642
URI: http://eprints.soton.ac.uk/id/eprint/442642
ISSN: 0167-6296
PURE UUID: b79265b6-8cff-4786-9849-65ca6ea793a2
ORCID for Emmanouil Mentzakis: ORCID iD orcid.org/0000-0003-1761-209X

Catalogue record

Date deposited: 22 Jul 2020 16:30
Last modified: 26 Nov 2021 02:58

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Contributors

Author: Jeremiah Hurley
Author: Marjan Walli-Attaei

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