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dc.contributor.authorCoram, Alexen
dc.contributor.authorNoakes, Lyleen
dc.date.accessioned2012-09-25T07:18:31Z-
dc.date.available2012-09-25T07:18:31Z-
dc.date.issued2006-
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
dc.language.isoengen
dc.publisher|aUniversity of Massachusetts, Department of Economics |cAmherst, MAen
dc.relation.ispartofseries|aWorking Paper |x2006-08en
dc.subject.jelC61en
dc.subject.jelD60en
dc.subject.ddc330en
dc.subject.keywordwealth distributionen
dc.subject.keywordpositional goodsen
dc.subject.keywordstatusen
dc.subject.keywordinequalityen
dc.subject.keywordrelative advantageen
dc.titleRelative advantage, queue jumping, and welfare maximizing wealth distribution-
dc.typeWorking Paperen
dc.identifier.ppn572997787en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:ums:papers:2006-08en

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