Please use this identifier to cite or link to this item:
https://hdl.handle.net/10419/64193
Full metadata record
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Coram, Alex | en |
dc.contributor.author | Noakes, Lyle | en |
dc.date.accessioned | 2012-09-25T07:18:31Z | - |
dc.date.available | 2012-09-25T07:18:31Z | - |
dc.date.issued | 2006 | - |
dc.identifier.uri | http://hdl.handle.net/10419/64193 | - |
dc.description.abstract | Suppose 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 |
dc.language.iso | eng | en |
dc.publisher | |aUniversity of Massachusetts, Department of Economics |cAmherst, MA | en |
dc.relation.ispartofseries | |aWorking Paper |x2006-08 | en |
dc.subject.jel | C61 | en |
dc.subject.jel | D60 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | wealth distribution | en |
dc.subject.keyword | positional goods | en |
dc.subject.keyword | status | en |
dc.subject.keyword | inequality | en |
dc.subject.keyword | relative advantage | en |
dc.title | Relative advantage, queue jumping, and welfare maximizing wealth distribution | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 572997787 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
dc.identifier.repec | RePEc:ums:papers:2006-08 | en |
Files in This Item:
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.