Jeffrey Yusof

I am a sixth-year PhD candidate in Economics at the University of Zurich (UZH). I hold an MA in Economics from UZH. Before starting my PhD, I worked as a Pre-Doctoral Fellow for Prof. Ulf Zölitz and as Research Assistant for Prof. Michel Maréchal.

My research interests are in Behavioral Economics, Political Economy, and Public Economics. I mainly use experiments, large-scale surveys, and observational data to work on topics related to inequality, political preferences, and fairness.

I have visited UC Berkeley during the spring semester 2023, sponsored by Prof. Ricardo Perez-Truglia.

References:

Contact me: jeffrey.yusof@econ.uzh.ch

PhD Candidate in Economics at UZH

Research

Job Market Paper

Market Luck: Skill-Biased Inequality and Redistributive Preferences, with Simona Sartor.
[Draft]

A central driver of income inequality are market forces beyond individual control, a phenomenon we refer to as market luck. In meritocratic societies, this raises the question of whether individuals perceive such inequalities as fair. To address this question, we conduct an experiment in the US where inequality between workers emerges due to random matching with buyers who require specific skills, creating inequality driven by market luck. Our findings indicate that individuals are more accepting of inequalities resulting from market luck than those caused by brute luck, even though both are beyond workers' control and unrelated to their effort. Large-scale experiments in France and China confirm directionally consistent results across all three countries, though with varying magnitudes of treatment effects, suggesting that redistributive preferences are sensitive to cultural differences and exposure to market institutions. We further validate our findings in additional survey experiments designed around real-life situations, and we show that behavior in the experiments predicts support for real-world policies. Our results provide a novel explanation for the muted demand for redistribution amid rising inequality.

Publications

Whose Preferences Matter for Redistribution: Cross-Country Evidence, with Alain Cohn, Raymond Fisman, and Michel Maréchal.
Journal of Political Economy: Microeconomics, 2025, Vol. 3 (1), pp. 1-24.
[Article] [NBER Working Paper] [Replication Package]

Using cross-sectional data from 93 countries, we investigate the relationship between the desired level of redistribution among citizens from different socioeconomic backgrounds and the actual extent of government redistribution. Our focus on redistribution arises from the inherent class conflicts it engenders in policy choices, allowing us to examine whose preferences are reflected in policy formulation. Contrary to prevailing assumptions regarding political influence, we find that the preferences of the lower socioeconomic group, rather than those of the median or upper strata, are most predictive of realized redistribution. This finding contradicts the expectations of both leading experts and regular citizens.

Working Papers

Billionaire Superstar: Public Image and Demand for Taxation, with Ricardo Perez-Truglia.
[NBER Working Paper]

In the United States, there are 741 billionaires with a combined net worth of $5.2 trillion. These billionaires live highly public lives, with some achieving superstar status. Despite growing inequality, billionaires face effective tax rates lower than the average American. Is this due to a lack of public support for taxation? Is it due to misperceptions about billionaires' lives and careers? To address these questions, we conducted a survey experiment with a sample of 9,013 Americans. We designed multiple treatments based on research on preferences for redistribution and arguments made by academics, journalists, and the general public to increase taxes on the ultra-wealthy. Our findings reveal significant misperceptions about billionaires, with individuals updating their beliefs in response to information. Contrary to expert predictions that all treatments would positively affect the demand for taxation, most treatments have a null or negative effect. Providing information about the lavish lifestyles of billionaires does have a robust positive effect on the demand for taxation.

Work in Progress

Social Status Perceptions and Political Preferences, with Sören Harrs.
Pilot data collected.