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Measuring Preferences for Income Equality and Income Mobility

Author

Listed:
  • Bernardo Lara E.

    (Universidad Adolfo Ibáñez)

  • Kenneth A. Shores

    (University of Delaware)

Abstract

This paper quantifies preferences for income equality and mobility by generating statistics that are uncorrelated with beliefs and can be interpreted as marginal rates of substitution (MRS). All things being equal, U.S. residents are willing to reduce average income by $2,744 to reduce the 90/10 income inequality ratio one unit, and $1,228 to increase income mobility from the bottom quintile one percentage point. Democrats and Independents have similar preferences for both social variables, while Republicans have an MRS that is about two-thirds that of Democrats and Independents for both income inequality and mobility.

Suggested Citation

  • Bernardo Lara E. & Kenneth A. Shores, 2024. "Measuring Preferences for Income Equality and Income Mobility," The Review of Economics and Statistics, MIT Press, vol. 106(6), pages 1542-1557, November.
    • Handle: RePEc:tpr:restat:v:106:y:2024:i:6:p:1542-1557
    DOI: 10.1162/rest_a_01240
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