Arbeitspapier
Relative advantage, queue jumping, and welfare maximizing wealth distribution
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.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 2006-08
- Klassifikation
-
Wirtschaft
Optimization Techniques; Programming Models; Dynamic Analysis
Welfare Economics: General
- Thema
-
wealth distribution
positional goods
status
inequality
relative advantage
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Coram, Alex
Noakes, Lyle
- Ereignis
-
Veröffentlichung
- (wer)
-
University of Massachusetts, Department of Economics
- (wo)
-
Amherst, MA
- (wann)
-
2006
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Coram, Alex
- Noakes, Lyle
- University of Massachusetts, Department of Economics
Entstanden
- 2006
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