The Department of Economics Theory, History and Development Workshop Series presents

“Just Luck: An Experimental Study of Risk Taking and Fairness”
with James Konow, Loyola Marymount University

Monday, June 6, 2011
3:30-5:00 p.m.
Social Science Plaza B, Room 3266 (Econ Library)

Choices involving risk significantly affect the distribution of income and wealth in society. Konow ‘s talk will report the results of the first experiment, to his knowledge, to study fairness views about risk-taking, specifically whether such views are based chiefly on ex ante opportunities or on ex post outcomes. He finds that, even though many participants focus exclusively on ex ante opportunities, most favor some redistribution ex post. Many participants also make a distinction between ex post inequalities that reflect differences in luck and ex post inequalities that reflect differences in choices. These findings apply to both stakeholders and impartial spectators.
 
For further information, please contact Gloria Simpson, simpsong@uci.edu.