Is the veil of ignorance only a concept about risk? An experiment

Hörisch, Hannah (Januar 2007): Is the veil of ignorance only a concept about risk? An experiment. Münchener Wirtschaftswissenschaftliche Beiträge (VWL) 2007-4

Abstract

We implement the Rawlsian thought experiment of a veil of ignorance in the laboratory which introduces risk and possibly social preferences. We find that both men and women react to the risk introduced by the veil of ignorance. Only the women additionally exhibit social preferences that reflect an increased concern for equality. Our results for women imply that maximin preferences can also be derived from a combination of some, not necessarily infinite risk aversion and social preferences. This result contrasts the Utilitarians' claim that maximin preferences necessarily represent preferences with infinite risk aversion.

• Dokumententyp: Paper
• Keywords: veil of ignorance, social preferences, equality, efficiency, experiment
• Fakultät: Volkswirtschaft ; Volkswirtschaft > Munich Discussion Papers in Economics ; Volkswirtschaft > Munich Discussion Papers in Economics > Verhaltenswissenschaftliche Ökonomik ; Volkswirtschaft > Munich Discussion Papers in Economics > Wohlfahrtsökonomik ; Volkswirtschaft > Lehrstühle > Seminar für Wirtschaftstheorie
• Themengebiete: 300 Sozialwissenschaften > 300 Sozialwissenschaft, Soziologie ; 300 Sozialwissenschaften > 330 Wirtschaft
• JEL Classification: D63, D64, C99
• Sprache: Englisch