
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.
Item Type: | Paper |
---|---|
Keywords: | veil of ignorance, social preferences, equality, efficiency, experiment |
Faculties: | Economics Economics > Munich Discussion Papers in Economics Economics > Munich Discussion Papers in Economics > Behavioral Economics Economics > Munich Discussion Papers in Economics > Welfare Economics Economics > Chairs > Seminar for Economic Theory |
Subjects: | 300 Social sciences > 300 Social sciences, sociology and anthropology 300 Social sciences > 330 Economics |
JEL Classification: | D63, D64, C99 |
URN: | urn:nbn:de:bvb:19-epub-1362-6 |
Language: | English |
Item ID: | 1362 |
Date Deposited: | 16. Jan 2007 |
Last Modified: | 05. Nov 2020, 05:46 |