Empirical Properties of an Extended CES Utility Function in Representing Distributional Preferences

Inukai, Keigo; Shimodaira, Yuta; Shiozawa, Kohei

Empirical Properties of an Extended CES Utility Function in Representing Distributional Preferences

Inukai, Keigo; Shimodaira, Yuta; Shiozawa, Kohei

Institute of Social and Economic Research Discussion Papers, 2022, 1199, 1-85

アクセス数:324件（2026-07-15 13:58 集計）

固定URL: https://hdl.handle.net/11094/89886

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タイトル	Empirical Properties of an Extended CES Utility Function in Representing Distributional Preferences
著者	NRID 1000080706945 1000080706945 著者名 Inukai, Keigo
	著者名 Shimodaira, Yuta
	著者名 Shiozawa, Kohei
キーワード等	CES
	Distributional preferences
	Equality
	Efficiency
	Amazon Mechanical Turk
抄録	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.
出版者	The Institute of Social and Economic Research, Osaka University
収録物名	Institute of Social and Economic Research Discussion Papers
巻(号)	1199
ページ	1-85
刊行年月	2022-12
言語	英語
ハンドルURL	https://hdl.handle.net/11094/89886
PISSN	0473453X
eISSN	24350982
関連情報 (references)	URI https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/2022/DP1199.pdf
アクセス権	metadata only access
カテゴリ	ディスカッション／ワーキング・ペーパー DP/WP
カテゴリ	Institute of Social and Economic Research Discussion Papers

資源タイプ	テクニカルレポート
ローカル資源タイプ	ディスカッション／ワーキング・ペーパー
DCMI資源タイプ	text
DCTERMS.bibliographicCitation	Institute of Social and Economic Research Discussion Papers. 2022, 1199, p. 1-85
DC.title	Empirical Properties of an Extended CES Utility Function in Representing Distributional Preferences
DC.creator	Inukai, Keigo
	Shimodaira, Yuta
	Shiozawa, Kohei
DC.publisher	The Institute of Social and Economic Research, Osaka University
DC.language' scheme='DCTERMS.RFC1766	英語
DC.type' scheme='DCTERMS.DCMIType	text
DCTERMS.issued' scheme='DCTERMS.W3CDTF	2022-12
DC.relation' scheme='DCTERMS.URI	https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/2022/DP1199.pdf
DC.subject	CES
	Distributional preferences
	Equality
	Efficiency
	Amazon Mechanical Turk
DCTERMS.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.
DC.format	89886
citation_title	Empirical Properties of an Extended CES Utility Function in Representing Distributional Preferences
citation_author	Inukai, Keigo
	Shimodaira, Yuta
	Shiozawa, Kohei
citation_publisher	The Institute of Social and Economic Research, Osaka University
citation_language	英語
citation_date	2022-12
citation_journal_title	Institute of Social and Economic Research Discussion Papers
citation_volume	1199
citation_firstpage	1
citation_lastpage	85
citation_public_url	https://hdl.handle.net/11094/89886
citation_abstract_html_url	https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/2022/DP1199.pdf

Empirical Properties of an Extended CES Utility Function in Representing Distributional Preferences

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