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Title:What's the monetary value of distributive justice? PDF Logo
Authors:Corneo, Giacomo
Fong, Christina M.
Issue Date:2006
Series/Report no.:CESifo working paper 1706
Abstract:This paper proposes a model that can be implemented to estimate the willingness to pay for distributive justice. A formula is derived that allows one to recover the willingness to pay for distributive justice from the estimated coefficients of a probit regression and fiscal data. Using this formula and data from a 1998 Gallup Social Audit, we find that the monetary value of justice in the United States is about one fifth of GDP. We find no evidence that the value of justice varies across types of people.
JEL:D63
H24
Document Type:Working Paper
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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