Consistent comparisons of attainment and shortfall inequality: A critical examination
AbstractAn inequality measure is consistent if it ranks distributions the same irrespective of whether health quantities are represented in terms of attainment or shortfalls. This consistency property severely restricts the set of admissible inequality measures. We show that, within a more general setting of separate measures for attainments and shortfalls, the consistency property is a combination of two conditions. The first is a compelling rationality condition that says that the attainment measure should rank attainment distributions as the shortfall measure ranks shortfall distributions. The second is an overly demanding condition that says that the attainment measure and the shortfall measure should be identical. By dropping the latter condition, the restrictions onthe admissible inequality measures disappear.
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Bibliographic InfoPaper provided by Maastricht : GSBE, Graduate School of Business and Economics in its series Research Memorandum with number 064.
Date of creation: 2013
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Web page: http://www.maastrichtuniversity.nl/web/UMPublications.htm
Distribution: Other; Equity; Justice; Inequality; and Other Normative Criteria and Measurement; Health and Inequality;
Find related papers by JEL classification:
- D39 - Microeconomics - - Distribution - - - Other
- I14 - Health, Education, and Welfare - - Health - - - Health and Inequality
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
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