Why the Rich Are Nastier Than the Poor – A Note on the Distribution of Wealth When Individuals Care for Payoff Differentials
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چکیده
There is ample empirical evidence that individuals do not simply maximize expected monetary income. Rather, relative positions seem often more important than absolute ones. This can cause surprising effects. In Hessia (Germany), for example, the government has recently decided to abolish lower ranks for policemen1 and to promote everybody in these ranks within several years. Although, this measure is strictly increasing the policemen’s (expected) monetary
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تاریخ انتشار 2001