Which Inequality? The Inequality of Endowments versus the Inequality of Rewards
区分了初始禀赋不平等（如能力、继承财富）与回报不平等（如职位、金钱），发现两者对均衡行为和福利有相反影响：回报不平等伤害多数人，而禀赋不平等有利于中产阶级。
We introduce a new distinction between inequality in initial endowments (e.g., ability, inherited wealth) and inequality of what one can obtain as rewards (e.g., prestigious positions, money). We show that, when society allocates resources via tournaments, these two types of inequality have opposing effects on equilibrium behavior and well-being. Greater inequality of rewards hurts most people—both the middle class and the poor—who are forced into greater effort. Conversely, greater inequality of endowments benefits the middle class. Thus, the correctness of our intuitions about the implications of inequality is hugely affected by the type of inequality considered.