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Variance estimation for richness measures

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  • Michał Brzeziński

    ()
    (Faculty of Economic Sciences, University of Warsaw)

Abstract

Richness indices are distributional statistics used to measure the incomes, earnings, or wealth of the rich. This paper uses a linearization method to derive the sampling variances for recently introduced distributionally-sensitive richness measures when estimated from survey data. The results are derived for two cases: (1) when the richness line is known, and (2) when it has to be estimated from the sample. The proposed approach enables easy consideration of the effects of a complex sampling design. Monte Carlo results suggest that the proposed approach allows for reliable inference in case of “concave” richness indices, but that it is not satisfactory in case of “convex” richness measures.

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File URL: http://www.wne.uw.edu.pl/inf/wyd/WP/WNE_WP88.pdf
File Function: First version, 2013
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Bibliographic Info

Paper provided by Faculty of Economic Sciences, University of Warsaw in its series Working Papers with number 2013-03.

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Length: 21 pages
Date of creation: 2013
Date of revision:
Handle: RePEc:war:wpaper:2013-03

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Keywords: richness; affluence; distributional indices; variance estimation; statistical inference;

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