TY  - RPRT
        AU  - Schiff, Maurice
        TI  - On the Inefficiency of Inequality
        PY  - 2004/Sep/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 1283
        UR  - https://www.iza.org/publications/dp1283
        AB  - A number of studies have examined the implications of preference interdependence. This paper models utility as depending on other people’s consumption levels and shows that welfare declines with inequality, equilibrium inequality is inefficient, and the optimal intervention leads to a more equal distribution.  
        KW  - inequality
KW  - efficiency
        ER  -