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The Marginal Utility of Income.

Abstract:

In normative public economics it is crucial to know how fast the marginal utility of income declines as income increases. One needs this parameter for cost-benefit analysis, for optimal taxation and for the (Atkinson) measurement of inequality. We estimate this parameter using four large cross-sectional surveys of subjective happiness and two panel surveys. Altogether, the data cover over 50 countries and time periods between 1972 and 2005. In each of the six very different surveys, using a n...

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Publication status:
Published
Peer review status:
Peer reviewed
Version:
Publisher's version

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Institution:
London School of Economics
Department:
Centre for Economic Performance
Role:
Author
More by this author
Institution:
London School of Economics
Department:
Centre for Economic Performance
Role:
Author
More by this author
Institution:
University of Oxford
Oxford college:
Nuffield College
Department:
Oxford, Social Sciences Division, Economics
Role:
Author
Esmee Fairbairn Foundation More from this funder
Publisher:
Centre for Economic Performance, LSE Publisher's website
Volume:
784
Publication date:
2007-01-01
URN:
uuid:030ebbe0-d249-456c-81d8-300132a9d633
Local pid:
oai:economics.ouls.ox.ac.uk:11789
Language:
English

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