This paper presents an experimental framework for separating the attitude toward inequality from the attitude toward risk. This exploratory experimental study examines the attitude toward inequality while keeping risk constant. The results support the hypothesis of inequality aversion only among...

Inequality aversion and risk-aversion are widely assumed in economic models; however existing economic literature fails to distinguish between the two. This paper presents methodology and a laboratory experiment, which separates inequality aversion from risk aversion. In a set of laboratory...