Redistribution by means of lotteries
نویسندگان
چکیده
A government designs transfers to agents in the absence of information on their preferences. The second-best allocation is equal sharing among citizens when the awards are deterministic. We provide a necessary and su cient condition under which lotteries improve upon the egalitarian outcome. The condition requires that the citizens with large social weights have low risk aversion, and that the left tail of the distribution of risk aversion be su ciently dispersed. JEL classi cation numbers: H21, H23, H26.
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ورودعنوان ژورنال:
- J. Economic Theory
دوره 169 شماره
صفحات -
تاریخ انتشار 2017