rates, inequality, and income redistribution. We also extend that model to incorporate social preferences in the form of …

We study loss aversion in majority voting. First, we show a status quo bias. Second, loss aversion implies a moderating …; however, in the presence of a projection bias, majorities are partially unable to understand how fast they will adapt. Fourth … status quo. The application of these results to a model of redistribution leads to empirically plausible implications …

This paper argues that worker cooperatives are prone to redistribution among members, and that this redistribution …

their effort, it will chose low redistribution and low taxes. In equilibrium effort will be high, the role of luck limited …

low, the equilibrium policy is characterized by some amount of general income redistribution and some targeted transfers … interest groups and against general redistribution. As diversity increases further, however, only general redistribution …

members choose either a risky reform or a safe alternative each period. When no redistribution is allowed the unique … equilibrium outcome is generically inefficient. When redistribution is allowed (even small amounts), there always exists an … policy experimentation is possible only with a sufficient amount of redistribution. We conclude that veto rights are more of …

the concurrent decline in welfare-state redistribution. This paper develops a model, which can provide an explanation for …-economy balance and the redistributive policies. The paper highlights the differences in the political-economy induced redistribution …

The extent of taxation and redistribution policy is generally determined as a political-economy equilibrium by a … burden and less redistribution than would be the case with no immigration, even though migrants (naturally) join the pro …-tax/transfer coalition. Data on 11 European countries over the period 1974 to 1992 are consistent with the implications of the theory: a …