Why the Rich Are Nastier Than the Poor--A Note on the Distribution of Wealth When Individuals Care for Payoff Differentials.

In view of empirical and evolutionary findings on the relevance of relative payoffs we study--as a benchmark case--a model in which individuals maximize payoff differentials having the opportunity to invest in their relative standing by harming others. Interestingly, optimal investments are increasing in individuals' own wealth and decreasing in the wealth of others. Copyright 2000 by WWZ and Helbing & Lichtenhahn Verlag AG

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Year of publication:	2000
Authors:	Huck, Steffen ; Muller, Wieland
Published in:	Kyklos. - Wiley Blackwell, ISSN 0023-5962. - Vol. 53.2000, 2, p. 153-59
Publisher:	Wiley Blackwell

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005217462