Let me inform you of the following research seminar.

Date: April 15, 2022
Time: 17:15-18:45
Venue: Seminar Room B, 11th floor, Bldg. No. 2, & Zoom
Speaker: Hidefumi Yokoo (Hitotsubashi University)
Organizer: Kohei Kamaga
Language: Japanese

Title: The asymmetry of intergenerational fairness preferences: Evidence from a randomized survey experiment
Abstract: Intergenerational concerns underlie various economic decisions. This paper provides a model of fairness considerations for other generations. We adapt a model of fairness preferences to include the relative weights on consumption utility of other generations. Then, using a randomized online survey experiment with 11,100 Japanese respondents born in the 1970s, we elicit their weights on the generations born 20 years before and after. The results of our analysis show that the respondents, on average, discount the income of the generation born in the 1990s with a factor of about 0.935; this is significantly less than 1, implying that the respondents tend to undervalue the next generation over their own in fairness considerations. In contrast, the discount factor for the generation born in the 1950s is 0.963 if their earnings are determined by luck but not significantly different from 1 if determined by individual productivity. These results indicate a pluralism and asymmetry of fairness preferences for other generations.

* Please contact the organizer via email, if you'd like to participate in the online seminar.
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