Social Preferences under Risk: Equality of Opportunity versus Equality of Outcome

摘要

X and Y are brothers who like to share everything, whenever possible. They are also both huge fans of football. One day, X finds an envelope in the park that contains just one ticket to the next Super Bowl. X agonizes over whether to (ⅰ) attend the game secretly, which would make him feel guilty; or (ⅱ) tell his brother about it and suggest they flip a coin to decide who gets to go. From an ex ante viewpoint, flipping a coin means that the brothers' chances of getting the ticket will be equal. From an ex post viewpoint, however, if X loses the coin toss, he will definitely feel envy.