Skip to content Skip to navigation
University of Warwick
  • Study
  • |
  • Research
  • |
  • Business
  • |
  • Alumni
  • |
  • News
  • |
  • About

University of Warwick
Publications service & WRAP

Highlight your research

  • WRAP
    • Home
    • Search WRAP
    • Browse by Warwick Author
    • Browse WRAP by Year
    • Browse WRAP by Subject
    • Browse WRAP by Department
    • Browse WRAP by Funder
    • Browse Theses by Department
  • Publications Service
    • Home
    • Search Publications Service
    • Browse by Warwick Author
    • Browse Publications service by Year
    • Browse Publications service by Subject
    • Browse Publications service by Department
    • Browse Publications service by Funder
  • Help & Advice
University of Warwick

The Library

  • Login
  • Admin

Are people willing to pay to reduce others' incomes?

Tools
- Tools
+ Tools

Oswald, Andrew J. and Zizzo, Daniel John (2000) Are people willing to pay to reduce others' incomes? Working Paper. Coventry: University of Warwick, Department of Economics. Warwick economic research papers (No.568).

[img]
Preview
PDF
WRAP_Oswald_finaljuly13paris.pdf - Requires a PDF viewer.

Download (232Kb)
Official URL: http://www2.warwick.ac.uk/fac/soc/economics/resear...

Request Changes to record.

Abstract

This paper studies utility interdependence in the laboratory. We design an experiment where subjects can reduce ("burn") other subjects' money. Those who burn the money of others have to give up some of their own cash. Despite this cost, and contrary to the assumptions of economics textbooks, the majority of our subjects choose to destroy at least part of others' money holdings. We vary experimentally the amount that subjects have to pay to reduce other people's cash. The implied price elasticity of burning is calculated; it is mostly less than unity. There is a strong correlation between wealth, or rank, and the amounts by which subjects are burnt. In making their decisions, many burners, especially disadvantaged
ones, seem to care about whether another person ‘deserves’ the money he has. Desert is not simply a matter of relative payoff.

Item Type: Working or Discussion Paper (Working Paper)
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Social Sciences > Economics
Library of Congress Subject Headings (LCSH): Decision making, Consumer behavior
Series Name: Warwick economic research papers
Publisher: University of Warwick, Department of Economics
Place of Publication: Coventry
Official Date: 2000
Dates:
DateEvent
2000Published
Number: No.568
Number of Pages: 38
Status: Not Peer Reviewed
Access rights to Published version: Open Access

Request changes or add full text files to a record

Repository staff actions (login required)

View Item View Item

Downloads

Downloads per month over past year

View more statistics

twitter

Email us: wrap@warwick.ac.uk
Contact Details
About Us