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dc.contributor.authorCoram, Alexen_US
dc.contributor.authorNoakes, Lyleen_US
dc.date.accessioned2012-09-25T07:18:31Z-
dc.date.available2012-09-25T07:18:31Z-
dc.date.issued2006en_US
dc.identifier.urihttp://hdl.handle.net/10419/64193-
dc.description.abstractSuppose individuals get utilities from the total amount of wealth they hold and from their wealth relative to those immediately below them. This paper studies the distribution of wealth that maximizes an additive welfare function made up of these utilities. It interprets wealth distribution in a control theory framework to show that the welfare maximizing distribution may have unexpected properties. In some circumstances it requires that inequality be maximized at the poorest and richest ends of the distribution. In other circumstances it requires that all wealth be given to a single individual.en_US
dc.language.isoengen_US
dc.publisherUniv. of Massachusetts, Dep. of Economics Amherst, Mass.en_US
dc.relation.ispartofseriesWorking Paper, University of Massachusetts, Department of Economics 2006-08en_US
dc.subject.jelC61en_US
dc.subject.jelD60en_US
dc.subject.ddc330en_US
dc.subject.keywordwealth distributionen_US
dc.subject.keywordpositional goodsen_US
dc.subject.keywordstatusen_US
dc.subject.keywordinequalityen_US
dc.subject.keywordrelative advantageen_US
dc.titleRelative advantage, queue jumping, and welfare maximizing wealth distributionen_US
dc.typeWorking Paperen_US
dc.identifier.ppn572997787en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Working Papers, Department of Economics, University of Massachusetts

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