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There are a couple of things here. First of all, envy is when your own payoff is smaller than the other player's payoff, which is the case when $z_i<z_j$. So the coefficients here are $0.8$ for envy and $0.4$ for compassion (envy looms larger). Solving the game using backward induction, we need to first find the minimum value that player 2 is willing to ...

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The disparity exists because a high income taxes level income inequality but do little to fix wealth inequality. Wealth inequality is always higher than labor income inequality, due to income originated from wealth (or capital income), such as rents, dividends or royalties and the increase of asset values [6]. This source of income accounts for a large ...

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The argument is correct Social Mobility and Income Inequality are simply two distinct phenomenons. Mobility is arguably the more complex one, and there are many different ways to define it. As an example, absolute mobility refers to someone earning more income in absolute terms (\\$ per year), while relative mobility refers to someone earning more in ...

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I have actually found an answer to my own question. In case anyone's interested, I found the data on the top 10%'s income share going back to 1913 on dr. Mark Frank's website - he collaborated on the construction WID. I suppose the series have gone missing / were excluded for some reason on the WID's platform? https://www.shsu.edu/~eco_mwf/inequality.html

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This is just perfect price discrimination. Happens sometimes with niche drugs (where drug makers can know the ability of people to pay). In this scenario, consumer surplus is completely captured by suppliers.

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The wayback machine has snapshots: https://web.archive.org/web/20120217010359/http://www.delta.ens.fr/XIX/

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