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Individual risk preferences and the demand for redistribution
Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
Humboldt University, Germany; Research Institute Ind Econ IFN, Sweden.
Research Institute Ind Econ IFN, Sweden; Stockholm University, Sweden.
2017 (English)In: Journal of Public Economics, ISSN 0047-2727, E-ISSN 1879-2316, Vol. 153, 49-55 p.Article in journal (Refereed) Published
Abstract [en]

Redistributive policies can provide an insurance against future negative economic shocks. This, in turn, implies that an individuals demand for redistribution is expected to increase with her risk aversion. To test this prediction, we elicit risk aversion and demand for redistribution through a well-established set of measures in a representative sample of the Swedish population. We document a statistically significant and robust positive relation between risk aversion and the demand for redistribution that is also economically important. We show that previously used proxies for risk aversion (such as being an entrepreneur or having a history of unemployment) do not capture the effect of our measure of risk aversion but have distinctly different effects on the demand for redistribution. We also show evidence indicating that risk aversion can explain significant parts of the well-studied relations between age and gender on the one hand and demand for redistribution on the other. (C) 2017 Elsevier B.V. All rights reserved.

Place, publisher, year, edition, pages
ELSEVIER SCIENCE SA , 2017. Vol. 153, 49-55 p.
Keyword [en]
Risk aversion; Redistribution; Inequality; Survey; Experiment
National Category
Economics
Identifiers
URN: urn:nbn:se:liu:diva-141720DOI: 10.1016/j.jpubeco.2017.06.009ISI: 000411305100004OAI: oai:DiVA.org:liu-141720DiVA: diva2:1147311
Note

Funding Agencies|Ragnar Soderberg Foundation; Swedish Royal Academy of Sciences; Lab for Economics Applications and Policy at Harvard University

Available from: 2017-10-05 Created: 2017-10-05 Last updated: 2017-10-05

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • oxford
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf