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Cornell University; University of Edinburgh

June 05-07, 2009
International Conference ???Relativity, Inequality and Public Policy??
Edinburgh, campus of the University of Edinburgh, United Kingdom
In economics, ???relativity?? is the idea that it is position relative to others that motivates behavior and determines individual and therefore social wellbeing. This idea has distinguished pedigree, going back in modern times to Duesenberry??s relative income hypothesis, and even further back to Adam Smith??s claim that ???a creditable day-laborer would be ashamed to appear in public without a linen shirt?? . However, in the last two decades research has accelerated on relative concerns and their interactions with inequality, and their implications for public policy. Conventional welfare economics with interdependent preferences has progressed alongside new departures in theoretical and experimental behavioral economics, and in the economics of happiness. Progressivity in taxation can be seen in a new light if inequality interacts with relativity to produce socially inefficient outcomes. At the same time, the debate between paternalism and libertarianism is also sharpened if people have feelings of envy towards their fellow beings because of their relative positions in society. With this background, Cornell University and the University of Edinburgh are hosting a major international conference ??? ???Relativity, Inequality and Public Policy?? ??? to take stock of where we stand and to highlight the open questions. [gem?_?? den Informationen des Anbieters - according to site editor's information]
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