By Gianni Betti, Achille Lemmi
This impressive collection from a few of today’s major distributional analysts offers an outline quite a lot of financial, statistical and sociological relationships which were unfolded for clinical research via the paintings of 2 turn-of-the-20th-century economists: C. Gini and M. O. Lorenz.
The authors comprise such figues as Barry Arnold and Frank Cowell and the ensuing ebook merits its position at the bookshelf of significant mathematical economists everywhere.
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Additional resources for Advances on Income Inequality and Concentration Measures
2 The Lorenz curve Evergreen after 100 years Barry C. 1 Introduction In 1905, Max Lorenz proposed a simple graphical means to summarize the inequality of wealth in a ﬁnite population of individuals. Known subsequently as the Lorenz curve, it has survived well and indeed still occupies a preeminent place in discussion of the quantiﬁcation of inequality. It was a simple, but a very good, idea. Subsequent investigations have provided useful interpretations of why it does so well in capturing our conceptions of what really constitutes inequality.
Iii) The Kakwani index, K, deﬁned to be the length of the Lorenz curve. It is evident that all three measures, G, P and K, respect the Lorenz order. 4) The Lorenz curve 19 (in order to obtain a measure whose values range from 0 to 1, Kakwani (1980) actually proposed using (K − √2)/(2 − √2) as an inequality measure). But in fact any Schur convex function can be used as a summary Α measure of inequality by applying it to the vector (x1/ Α n i=1 n Α xi, x2/ n i=1 Α xi, n . , xn/ i = 1 xi). In particular, separable convex functions of the form i=1 g(xi) where g is convex are often utilized.
And Heshmati, H. (2000). ‘Stochastic dominance amongst Swedish income distributions’, Econometric Reviews, 19,3: 287–320. Pareto, V. (1895). ‘La legge della domanda’, Giornale degli Economisti, 59–68. Notes 1 We refer to the contributions of those scholars who extended the seminal work of A. B. Atkinson on decomposable entropy-based inequality measures (Lemmi 1999: 287). 2 The original paper presented at the International Conference in Memory of Two Eminent Social Scientists, C. Gini and M. O. Lorenz, that took place at the Certosa di Pontignano on 23–26 May 2005 mentioned above, received the prize of the Italian Statistical Society (Società Italiana di Statistica, SIS) for the best contribution of authors from an emerging country.
Advances on Income Inequality and Concentration Measures by Gianni Betti, Achille Lemmi