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Ranking income distributions using the Geometric Mean and a related general measure

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Moore, Robert E.

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Abstract

This paper illustrates the usefulness of a generalized welfare measure for ranking income distributions that are unordered by stochastic dominance and illuminates the properties of the measure. Other welfare criteria such as the arithmetic mean and Rawls criteria are special cases of this generalized measure. This generalized welfare measure illustrates that use of these special cases involves a subjective judgment by the observer of the relative importance of equity preference to efficiency preference.

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File URL: http://mpra.ub.uni-muenchen.de/10171/
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 10171.

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Date of creation: Jul 1996
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Publication status: Published in Southern Economic Journal 1.63(1996): pp. 69-75
Handle: RePEc:pra:mprapa:10171

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Find related papers by JEL classification:
D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
O5 - Economic Development, Technological Change, and Growth - - Economywide Country Studies

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Jean, William H, 1980. " The Geometric Mean and Stochastic Dominance," Journal of Finance, American Finance Association, vol. 35(1), pages 151-58, March. [Downloadable!] (restricted)
  2. Basmann, R. L. & Slottje, D. J., 1987. "A new index of income inequality : The B measure," Economics Letters, Elsevier, vol. 24(4), pages 385-389. [Downloadable!] (restricted)
  3. Atkinson, Anthony B., 1970. "On the measurement of inequality," Journal of Economic Theory, Elsevier, vol. 2(3), pages 244-263, September. [Downloadable!] (restricted)
  4. Slottje, D. J. & Basmann, R. L. & Nieswiadomy, M., 1989. "On the empirical relationship between several well-known inequality measures," Journal of Econometrics, Elsevier, vol. 42(1), pages 49-66, September. [Downloadable!] (restricted)
  5. Fields, Gary S & Fei, John C H, 1978. "On Inequality Comparisons," Econometrica, Econometric Society, vol. 46(2), pages 303-16, March. [Downloadable!] (restricted)
  6. Bishop, John A. & Formby, John P. & Thistle, Paul D., 1991. "Rank dominance and international comparisons of income distributions," European Economic Review, Elsevier, vol. 35(7), pages 1399-1409, October. [Downloadable!] (restricted)
  7. Kravis, Irving B & Heston, Alan W & Summers, Robert, 1978. "Real GDP per Capita for More Than One Hundred Countries," Economic Journal, Royal Economic Society, vol. 88(350), pages 215-42, June. [Downloadable!] (restricted)
  8. Champernowne, D G, 1974. "A Comparison of Measures of Inequality of Income Distribution," Economic Journal, Royal Economic Society, vol. 84(336), pages 787-816, December. [Downloadable!] (restricted)
  9. Kakwani, Nanak, 1980. "On a Class of Poverty Measures," Econometrica, Econometric Society, vol. 48(2), pages 437-46, March. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Graham, Mary E. & Hotchkiss, Julie L., 2002. "A Systematic Assessment of Employer Equal Employment Opportunity Efforts as a Means of Reducing the Gender Earnings Gap," MPRA Paper 9310, University Library of Munich, Germany. [Downloadable!]
  2. Julie L. Hotchkiss & Robert E. Moore, 2007. "Assessing the welfare impact of the 2001 tax reform on dual-earner families," Working Paper 2007-27, Federal Reserve Bank of Atlanta. [Downloadable!]
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