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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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Journal:
Journal of Public Economics
Volume:
92
Publication date:
2008-01-01
ISSN:
0047-2727
Language:
English
UUID:
uuid:89948cc6-7697-43cf-86a7-8a3afc605ba7
Local pid:
oai:economics.ouls.ox.ac.uk:11052
Deposit date:
2011-08-16

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