Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/296844 
Year of Publication: 
2022
Series/Report no.: 
ISER Discussion Paper No. 1199
Publisher: 
Osaka University, Institute of Social and Economic Research (ISER), Osaka
Abstract: 
In previous work, we proposed a method to address mathematical inconvenience by extending the constant elasticity of substitution (CES) utility function in Inukai, Shimodaira, and Shiozawa (2022, ISER DP No.1195). However, the relationships between the extended CES parameters and the external measurements are yet unrevealed. To explore these empirical properties of the extended CES utility function, in this paper we construct an online experiment of Amazon Mechanical Turk workers using a modified dictator game, a public goods game, and a questionnaire. We then compare the parameters of the utility function according to the modified dictator game to behavior in the public goods game and the responses to the questionnaire. This provides evidence that the distribution parameter of the extended CES utility function measures the preference for equality or selfishness. However, we do not find any positive evidence that the substitution parameter measures the preference for efficiency.
Subjects: 
CES
Distributional preferences
Equality
Efficiency
Amazon Mechanical Turk
JEL: 
C91
D63
D64
D90
Document Type: 
Working Paper

Files in This Item:
File
Size
2.52 MB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.