In a global context, per-capita income disparities between countries persistently widen, while internal income inequality in most nations continues to increase. Nobel Laureate Joseph Stiglitz argues that such inequality is a result of deliberate political decisions. However, inequality...

We study how measures of socioeconomic health inequality inform about welfare inequality. We argue that transfers of either income or health from a better off to a worse off individual should reduce welfare inequality. Lacking an objective measure of individual welfare, we suggest that such a...

In the expected-utility theory of the monetary value of a statistical life, the so-called "dead-anyway" effect discovered by Pratt and Zeckhauser (1996) asserts that an individuals' willingness to pay (WTP) for small reductions in mortality risk increases with the initial level of risk. Their...