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Third-degree stochastic dominance and inequality measurement

Author

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  • Michel Le Breton

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  • Eugenio Peluso

    ()

Abstract

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Suggested Citation

  • Michel Le Breton & Eugenio Peluso, 2009. "Third-degree stochastic dominance and inequality measurement," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 7(3), pages 249-268, September.
  • Handle: RePEc:kap:jecinq:v:7:y:2009:i:3:p:249-268
    DOI: 10.1007/s10888-008-9077-0
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    References listed on IDEAS

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    1. Chew, Soo Hong, 1983. "A Generalization of the Quasilinear Mean with Applications to the Measurement of Income Inequality and Decision Theory Resolving the Allais Paradox," Econometrica, Econometric Society, vol. 51(4), pages 1065-1092, July.
    2. Dubra, Juan & Maccheroni, Fabio & Ok, Efe A., 2004. "Expected utility theory without the completeness axiom," Journal of Economic Theory, Elsevier, vol. 115(1), pages 118-133, March.
    3. Davies James & Hoy Michael, 1994. "The Normative Significance of Using Third-Degree Stochastic Dominance in Comparing Income Distributions," Journal of Economic Theory, Elsevier, vol. 64(2), pages 520-530, December.
    4. Kolm, Serge-Christophe, 1976. "Unequal inequalities. II," Journal of Economic Theory, Elsevier, vol. 13(1), pages 82-111, August.
    5. Claudio Zoli, 1999. "Intersecting generalized Lorenz curves and the Gini index," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 16(2), pages 183-196.
    6. Anthony F. Shorrocks & James E. Foster, 1987. "Transfer Sensitive Inequality Measures," Review of Economic Studies, Oxford University Press, vol. 54(3), pages 485-497.
    7. Weymark, John A., 1981. "Generalized gini inequality indices," Mathematical Social Sciences, Elsevier, vol. 1(4), pages 409-430, August.
    8. Gajdos, Thibault, 2004. "Single crossing Lorenz curves and inequality comparisons," Mathematical Social Sciences, Elsevier, vol. 47(1), pages 21-36, January.
    9. Weymark, John A., 1981. "Undominated directions of tax reform," Journal of Public Economics, Elsevier, vol. 16(3), pages 343-369, December.
    10. Guesnerie, Roger, 1977. "On the direction of tax reform," Journal of Public Economics, Elsevier, vol. 7(2), pages 179-202, April.
    11. Feldstein, Martin, 1976. "On the theory of tax reform," Journal of Public Economics, Elsevier, vol. 6(1-2), pages 77-104.
    12. Claudio Zoli, 2002. "Inverse stochastic dominance, inequality measurement and Gini indices," Journal of Economics, Springer, vol. 77(1), pages 119-161, December.
    13. Chateauneuf, Alain & Gajdos, Thibault & Wilthien, Pierre-Henry, 2002. "The Principle of Strong Diminishing Transfer," Journal of Economic Theory, Elsevier, vol. 103(2), pages 311-333, April.
    14. Davies, James & Hoy, Michael, 1995. "Making Inequality Comparisons When Lorenz Curves Intersect," American Economic Review, American Economic Association, vol. 85(4), pages 980-986, September.
    15. Davies, James B. & Hoy, Michael, 2002. "Flat rate taxes and inequality measurement," Journal of Public Economics, Elsevier, vol. 84(1), pages 33-46, April.
    16. Yaari, Menahem E., 1988. "A controversial proposal concerning inequality measurement," Journal of Economic Theory, Elsevier, vol. 44(2), pages 381-397, April.
    17. Baucells, Manel & Shapley, Lloyd S., 2008. "Multiperson utility," Games and Economic Behavior, Elsevier, vol. 62(2), pages 329-347, March.
    18. Muliere, Pietro & Scarsini, Marco, 1989. "A note on stochastic dominance and inequality measures," Journal of Economic Theory, Elsevier, vol. 49(2), pages 314-323, December.
    19. Dekel, Eddie, 1986. "An axiomatic characterization of preferences under uncertainty: Weakening the independence axiom," Journal of Economic Theory, Elsevier, vol. 40(2), pages 304-318, December.
    20. Rolf Aaberge, 2000. "Characterizations of Lorenz curves and income distributions," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 17(4), pages 639-653.
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    Citations

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    Cited by:

    1. Rolf Aaberge & Tarjei Havnes & Magne Mogstad, 2013. "A theory for ranking distribution functions," Discussion Papers 763, Statistics Norway, Research Department.
    2. repec:eee:mateco:v:70:y:2017:i:c:p:185-189 is not listed on IDEAS
    3. Eugenio Peluso & Alain Trannoy, 2012. "Preserving dominance relations through disaggregation: the evil and the saint," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 39(2), pages 633-647, July.
    4. Gayant, Jean-Pascal & Le Pape, Nicolas, 2017. "Increasing Nth degree inequality," Journal of Mathematical Economics, Elsevier, vol. 70(C), pages 185-189.
    5. David Lander & David Gunawan & William Griffiths & Duangkamon Chotikapanich, 2017. "Bayesian assessment of Lorenz and stochastic dominance," Monash Econometrics and Business Statistics Working Papers 15/17, Monash University, Department of Econometrics and Business Statistics.
    6. Chan, Raymond H. & Clark, Ephraim & Wong, Wing-Keung, 2012. "On the Third Order Stochastic Dominance for Risk-Averse and Risk-Seeking Investors," MPRA Paper 42676, University Library of Munich, Germany.
    7. Chan, Raymond H. & Clark, Ephraim & Wong, Wing-Keung, 2016. "On the Third Order Stochastic Dominance for Risk-Averse and Risk-Seeking Investors with Analysis of their Traditional and Internet Stocks," MPRA Paper 75002, University Library of Munich, Germany.

    More about this item

    Keywords

    Inequality measurement; Stochastic dominance; Lorenz order; D31; D63;

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement

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