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Is the veil of ignorance only a concept about risk? An experiment Author info | Abstract | Publisher info | Download info | Related research | Statistics Hörisch, Hannah
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.
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Paper provided by University of Munich, Department of Economics in its series Discussion Papers in Economics with number
1362.
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Date of creation: Jan 2007Date of revision:
Handle: RePEc:lmu:muenec:1362Contact details of provider: Postal: Schackstr. 4, D-80539 Munich, Germany Phone: +49-(0)89-2180-2219 Fax: +49-(0)89-2180-3900 Web page: http://www.vwl.uni-muenchen.de More information through EDIRC
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Keywords: veil of ignorance ; social preferences ; equality ; efficiency ; experiment ; Other versions of this item:
Find related papers by JEL classification: D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement D64 - Microeconomics - - Welfare Economics - - - Altruism C99 - Mathematical and Quantitative Methods - - Design of Experiments - - - Other
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