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On the Inefficiency of Inequality

A number of studies have examined the implications of preference interdependence. This paper models individual utility as depending either on the level of other people's consumption or on the difference in consumption levels. It assumes that t...

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Bibliographic Details
Main Author:	Schiff, Maurice
Language:	English en_US
Published:	World Bank, Washington, D.C. 2013
Subjects:	AGGREGATE DEMAND ASSET PRICES AVERAGE INCOME BANK LENDING CITIZENS CONSUMERS CONSUMPTION LEVELS CROSS-COUNTRY DIFFERENCES CROSS-COUNTRY INEQUALITY DEVELOPED COUNTRIES DEVELOPING COUNTRIES DIMINISHING MARGINAL UTILITY DISTRIBUTION OF WEALTH DISTRIBUTIVE POLITICS ECONOMIC BEHAVIOR ECONOMIC GROWTH ECONOMIC REVIEW ECONOMIC STUDIES EMPIRICAL EVIDENCE EMPIRICAL STUDIES EMPIRICAL SUPPORT EQUAL DISTRIBUTION EQUILIBRIUM EQUILIBRIUM DISTRIBUTION EXTERNALITIES EXTERNALITY FREE PRESS IMPACT OF INEQUALITY INCOME INCOME DISTRIBUTION INCOME LEVEL INDUSTRIALIZATION INEFFICIENCY INEQUALITY INTERNATIONAL DEVELOPMENT LEISURE MACROECONOMICS MARGINAL UTILITY MARKET BEHAVIOR MARKET IMPERFECTIONS NEGATIVE IMPACT NEGATIVE RELATIONSHIP PARETO OPTIMAL PER CAPITA CONSUMPTION POLICY REFORM POLICY RESEARCH POLITICAL ECONOMY POVERTY ALLEVIATION PRODUCTION FUNCTION PUBLIC SECTOR RELATIVE INCREASE SOCIAL CAPITAL TAX RATES TIME SERIES UTILITY FUNCTION WEALTH CONSUMPTION CONSUMPTION BEHAVIOR HOMELESS SOCIAL PROBLEMS CONSUMPTION PATTERNS LIFE STYLES WELFARE WELFARE ECONOMICS ECONOMIC THEORY TRICKLE UP THEORY EFFICIENCY ECONOMIC EFFECTS
Online Access:	http://documents.worldbank.org/curated/en/2004/07/4986983/inefficiency-inequality http://hdl.handle.net/10986/14170