Equity Preference Questionnaire (EPQ; Sauley & Bedeian, 2000) was developed as an alternative measure of Equity Sensitivity Instrument (ESI; Huseman, Hatfield, & Miles, 1987) assessing the construct of equity sensitivity. However, EQP appeared to have sub-dimensions, making it difficult to explain which the sub-factors are relavant to the equity sensitivity and causing the dispute on the validity issue, including the multidimensionality, of the measure. Current study, by using the principal component analysis, was able to confirm that EPQ was unidimensional. Besides, with the use of Item Response Theory (IRT; Embretson, & Reise, 2000), the EPQ measuere was investigated at the item level, which was unable to precisely estimate, in the classical test theory, the trait of both ‘Benevolents’ and ‘Entitleds’ comprised of equity sensitivity. Based on the results of both item and test information funcion in IRT, 6 out of 16 items were dropped from the measure due to the lack of the item information. The modified EPQ resulted in single factor as originally devised by Sauley and Bedeian(2000), and the predicting power of the revised measure remained stable. Implications are noted for further inquiry into refinement of modified EPQ.