Gini’s Mean difference: a superior measure of variability for non-normal distributions
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- M. S. Feldstein, 1969. "Mean-Variance Analysis in the Theory of Liquidity Preference and Portfolio Selection," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 36(1), pages 5-12.
- Russell Davidson & Jean-Yves Duclos, 1997.
"Statistical Inference for the Measurement of the Incidence of Taxes and Transfers,"
Econometrica, Econometric Society, vol. 65(6), pages 1453-1466, November.
- Davidson, R. & Duclos, J.Y., 1995. "Statistical Inference for the Measurement of the Incidence of Taxes and Transfers," G.R.E.Q.A.M. 95a30, Universite Aix-Marseille III.
- DAVIDSON, Russell & DUCLOS, Jean-Yves, 1995. "Statistical Inference for the Measurement of the Incidences of Taxes and Transfers," Cahiers de recherche 9521, Université Laval - Département d'économique.
- Davidson, R. & Duclos, J.Y., 1995. "Statistical Inference for the Measurement of the Incidence of Taxes and Transfers," Papers 9521, Laval - Recherche en Politique Economique.
- Yitzhaki, Shlomo & Lerman, Robert I, 1991. "Income Stratification and Income Inequality," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 37(3), pages 313-329, September.
- Yitzhaki, Shlomo, 1990.
"On the Sensitivity of a Regression Coefficient to Monotonic Transformations,"
Econometric Theory, Cambridge University Press, vol. 6(2), pages 165-169, June.
- Yitzhaki, Shlomo, 1989. "On the Sensitivity of a Regression Coefficient to Monotonic Transformations," Working Papers 232665, Hebrew University of Jerusalem, Center for Agricultural Economic Research.
- Michael Rockinger & Eric Jondeau, 2001.
"Conditional Dependency of Financial Series: An Application of Copulas,"
Working Papers
hal-00601478, HAL.
- Rockinger, M. & Jondeau, E., 2001. "Conditional Dependency of Financial Series: An Application of Copulas," Working papers 82, Banque de France.
- ROCKINGER, Michael & JONDEAU, Eric, 2001. "Conditional dependency of financial series : an application of copulas," HEC Research Papers Series 723, HEC Paris.
- Grether, David M., 1974. "Correlations with ordinal data," Journal of Econometrics, Elsevier, vol. 2(3), pages 241-246, September.
- Branko Milanovic & Shlomo Yitzhak, 2006.
"Decomposing World Income Distribution: Does The World Have A Middle Class?,"
IBT Journal of Business Studies (JBS), Ilma University, Faculty of Management Science, vol. 2(2), pages 88-110.
- Branko Milanovic & Shlomo Yitzhaki, 2002. "Decomposing World Income Distribution: Does The World Have A Middle Class?," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 48(2), pages 155-178, June.
- Milanovic, Branko & Shlomo Yitzhaki, 2001. "Decomposing world income distribution : does the world have a middle class ?," Policy Research Working Paper Series 2562, The World Bank.
- Gastwirth, Joseph L, 1972. "The Estimation of the Lorenz Curve and Gini Index," The Review of Economics and Statistics, MIT Press, vol. 54(3), pages 306-316, August.
- Schechtman, E. & Yitzhaki, S., 1999. "On the proper bounds of the Gini correlation," Economics Letters, Elsevier, vol. 63(2), pages 133-138, May.
- Gastwirth, Joseph L, 1971. "A General Definition of the Lorenz Curve," Econometrica, Econometric Society, vol. 39(6), pages 1037-1039, November.
- Yaari, Menahem E., 1988. "A controversial proposal concerning inequality measurement," Journal of Economic Theory, Elsevier, vol. 44(2), pages 381-397, April.
- Yitzhaki, Shlomo & Slemrod, Joel, 1991.
"Welfare Dominance: An Application to Commodity Taxation,"
American Economic Review, American Economic Association, vol. 81(3), pages 480-496, June.
- Shlomo Yitzhaki & Joel Slemrod, 1987. "Welfare Dominance: An Application to Commodity Taxation," NBER Working Papers 2451, National Bureau of Economic Research, Inc.
- Shalit, Haim & Yitzhaki, Shlomo, 1984.
"Mean-Gini, Portfolio Theory, and the Pricing of Risky Assets,"
Journal of Finance, American Finance Association, vol. 39(5), pages 1449-1468, December.
- Shalit, Haim & Yitzhaki, Shlomo, 1982. "Mean-Gini, Portfolio Theory and the Pricing of Risky Assets," Working Papers 232569, Hebrew University of Jerusalem, Center for Agricultural Economic Research.
- Anthony F. Shorrocks, 1983. "The Impact of Income Components on the Distribution of Family Incomes," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 98(2), pages 311-326.
- Dale W. Jorgenson & Daniel T. Slesnick, 1984. "Aggregate Consumer Behaviour and the Measurement of Inequality," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 51(3), pages 369-392.
- Suits, Daniel B, 1977. "Measurement of Tax Progressivity," American Economic Review, American Economic Association, vol. 67(4), pages 747-752, September.
- McKenzie, G W & Pearce, I F, 1982. "Welfare Measurement-A Synthesis," American Economic Review, American Economic Association, vol. 72(4), pages 669-682, September.
- Haim Levy, 1992. "Stochastic Dominance and Expected Utility: Survey and Analysis," Management Science, INFORMS, vol. 38(4), pages 555-593, April.
- Yitzhaki, Shlomo, 1983. "On an Extension of the Gini Inequality Index," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 24(3), pages 617-628, October.
- Silber, Jacques, 1989. "Factor Components, Population Subgroups and the Computation of the Gini Index of Inequality," The Review of Economics and Statistics, MIT Press, vol. 71(1), pages 107-115, February.
- Bishop, John A & Chow, K Victor & Formby, John P, 1994. "Testing for Marginal Changes in Income Distributions with Lorenz and Concentration Curves," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 35(2), pages 479-488, May.
- Shlomo Yitzhaki & Robert I. Lerman, 1991. "Income Stratification And Income Inequality," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 37(3), pages 313-329, September.
- Yitzhaki, Shlomo, 1996. "On Using Linear Regressions in Welfare Economics," Journal of Business & Economic Statistics, American Statistical Association, vol. 14(4), pages 478-486, October.
- Charles M. Beach & Russell Davidson, 1983. "Distribution-Free Statistical Inference with Lorenz Curves and Income Shares," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 50(4), pages 723-735.
- Bishop, John A & Formby, John P & Thistle, Paul D, 1992. "Convergence of the South and Non-South Income Distributions, 1969-1979," American Economic Review, American Economic Association, vol. 82(1), pages 262-272, March.
- Kakwani, Nanak C, 1977. "Applications of Lorenz Curves in Economic Analysis," Econometrica, Econometric Society, vol. 45(3), pages 719-727, April.
- G. Hanoch & H. Levy, 1969. "The Efficiency Analysis of Choices Involving Risk," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 36(3), pages 335-346.
- Haim Shalit & Shlomo Yitzhaki, 2005. "The Mean‐Gini Efficient Portfolio Frontier," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 28(1), pages 59-75, March.
- Hadar, Josef & Russell, William R, 1969. "Rules for Ordering Uncertain Prospects," American Economic Review, American Economic Association, vol. 59(1), pages 25-34, March.
- Yitzhaki, Shlomo, 1982. "Stochastic Dominance, Mean Variance, and Gini's Mean Difference," American Economic Review, American Economic Association, vol. 72(1), pages 178-185, March.
- Pyatt, Graham, 1976. "On the Interpretation and Disaggregation of Gini Coefficients," Economic Journal, Royal Economic Society, vol. 86(342), pages 243-255, June.
- Yitzhaki, Shlomo, 1994. "Economic distance and overlapping of distributions," Journal of Econometrics, Elsevier, vol. 61(1), pages 147-159, March.
- repec:bla:econom:v:50:y:1983:i:197:p:3-17 is not listed on IDEAS
- Angus Deaton, 1979. "The Distance Function in Consumer Behaviour with Applications to Index Numbers and Optimal Taxation," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 46(3), pages 391-405.
- Rothschild, Michael & Stiglitz, Joseph E., 1970. "Increasing risk: I. A definition," Journal of Economic Theory, Elsevier, vol. 2(3), pages 225-243, September.
- Levy, H & Markowtiz, H M, 1979. "Approximating Expected Utility by a Function of Mean and Variance," American Economic Review, American Economic Association, vol. 69(3), pages 308-317, June.
- Dagum, Camilo, 1987. "Measuring the Economic Affluence between Populations of Income Receivers," Journal of Business & Economic Statistics, American Statistical Association, vol. 5(1), pages 5-12, January.
- E. Schechtman & S. Yitzhaki, 2003. "A Family of Correlation Coefficients Based on the Extended Gini Index," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 1(2), pages 129-146, August.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Shlomo Yitzhaki & Edna Schechtman, 2004. "The Gini Instrumental Variable, or the “double instrumental variable” estimator," Metron - International Journal of Statistics, Dipartimento di Statistica, Probabilità e Statistiche Applicate - University of Rome, vol. 0(3), pages 287-313.
- Paul Makdissi & Stéphane Mussard, 2008.
"Decomposition of s-concentration curves,"
Canadian Journal of Economics, Canadian Economics Association, vol. 41(4), pages 1312-1328, November.
- Paul Makdissi & Stéphane Mussard, 2008. "Decomposition of s‐concentration curves," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 41(4), pages 1312-1328, November.
- Paul Makdissi & Stéphane Mussard, 2006. "Decomposition of s-Concentration Curves," Cahiers de recherche 06-21, Departement d'économique de l'École de gestion à l'Université de Sherbrooke.
- Paul Makdissi & Stéphane Mussard, 2008. "Decomposition of s-concentration curves," Post-Print hal-02132082, HAL.
- Paul Makdissi & Stéphane Mussard, 2006. "Decomposition of s - Concentration Curves," Cahiers de recherche 0641, CIRPEE.
- MAKDISSI Paul & MUSSARD Stéphane, 2006. "Decomposition of s-Concentration Curves," IRISS Working Paper Series 2006-09, IRISS at CEPS/INSTEAD.
- Stéphane Mussard & Françoise Seyte & Michel Terraza, 2006. "La décomposition de l’indicateur de Gini en sous-groupes : une revue de la littérature," Cahiers de recherche 06-11, Departement d'économique de l'École de gestion à l'Université de Sherbrooke.
- St鰨ane Mussard & Patrick Richard, 2012.
"Linking Yitzhaki's and Dagum's Gini decompositions,"
Applied Economics, Taylor & Francis Journals, vol. 44(23), pages 2997-3010, August.
- Stéphane Mussard & Patrick Richard, 2008. "Linking Yitzhaki’s and Dagum’s Gini Decompositions," Working Papers 08-13, LAMETA, Universtiy of Montpellier, revised Jul 2008.
- Stéphane Mussard & Patrick Richard, 2008. "Linking Yitzhaki’s and Dagum’s Gini Decompositions," Cahiers de recherche 08-21, Departement d'économique de l'École de gestion à l'Université de Sherbrooke.
- Haim Shalit, 1995. "Mean-Gini analysis of stochastic externalities: The case of groundwater contamination," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 6(1), pages 37-52, July.
- Haim Shalit & Shlomo Yitzhaki, 2010.
"How does beta explain stochastic dominance efficiency?,"
Review of Quantitative Finance and Accounting, Springer, vol. 35(4), pages 431-444, November.
- Haim Shalit & Shlomo Yitzhaki, 2008. "How Does Beta Explain Stochastic Dominance Efficiency?," Working Papers 0813, Ben-Gurion University of the Negev, Department of Economics.
- Doron Nisani & Amit Shelef, 2021. "A statistical analysis of investor preferences for portfolio selection," Empirical Economics, Springer, vol. 61(4), pages 1883-1915, October.
- Alina Jędrzejczak, 2014. "Income Inequality and Income Stratification in Poland," Statistics in Transition new series, Główny Urząd Statystyczny (Polska), vol. 15(2), pages 269-282, March.
- Allanson, Paul, 2014.
"Income stratification and between-group inequality,"
Economics Letters, Elsevier, vol. 124(2), pages 227-230.
- Allanson, Paul, 2013. "Income stratification and between-group inequality," SIRE Discussion Papers 2013-113, Scottish Institute for Research in Economics (SIRE).
- Paul Allanson, 2013. "Income stratification and between-group inequality," Dundee Discussion Papers in Economics 275, Economic Studies, University of Dundee.
- Magne Mogstad, 2007. "Measuring Income Inequality under Restricted Interpersonal Comparability," Discussion Papers 498, Statistics Norway, Research Department.
- Lean, Hooi Hooi & McAleer, Michael & Wong, Wing-Keung, 2010.
"Market efficiency of oil spot and futures: A mean-variance and stochastic dominance approach,"
Energy Economics, Elsevier, vol. 32(5), pages 979-986, September.
- Hooi Hooi Lean & Michael McAleer & Wing-Keung Wong, 2010. "Market Efficiency of Oil Spot and Futures: A Mean-Variance and Stochastic Dominance Approach," Working Papers in Economics 10/18, University of Canterbury, Department of Economics and Finance.
- Hooi Hooi Lean & Michael McAleer & Wing-Keung Wong, 2010. "Market Efficiency of Oil Spot and Futures: A Mean-Variance and Stochastic Dominance Approach," KIER Working Papers 718, Kyoto University, Institute of Economic Research.
- Al-Khazali, Osamah, 2014. "Revisiting fast profit investor sentiment and stock returns during Ramadan," International Review of Financial Analysis, Elsevier, vol. 33(C), pages 158-170.
- Joachim Frick & Jan Goebel, 2008.
"Regional Income Stratification in Unified Germany Using a Gini Decomposition Approach,"
Regional Studies, Taylor & Francis Journals, vol. 42(4), pages 555-577.
- Joachim R. Frick & Jan Goebel, 2005. "Regional Income Stratification in Unified Germany using a Gini Decomposition Approach," Working Papers 15, ECINEQ, Society for the Study of Economic Inequality.
- Frick, Joachim R. & Goebel, Jan, 2005. "Regional Income Stratification in Unified Germany Using a Gini Decomposition Approach," IZA Discussion Papers 1891, Institute of Labor Economics (IZA).
- Joachim R. Frick & Jan Goebel, 2005. "Regional Income Stratification in Unified Germany Using a Gini Decomposition Approach," Discussion Papers of DIW Berlin 540, DIW Berlin, German Institute for Economic Research.
- Doron Nisani, 2019. "Ranking Investments Using the Lorenz Curve," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 17(1), pages 1-9, March.
- Haim Shalit, 2024. "The Nonsense of Bitcoin 1n Portfolio Analysis," Working Papers 2401, Ben-Gurion University of the Negev, Department of Economics.
- Stéphane Mussard, 2007.
"Between-Group Pigou Dalton Transfers,"
Cahiers de recherche
07-06, Departement d'économique de l'École de gestion à l'Université de Sherbrooke.
- MUSSARD Stéphane, 2007. "Between-Group Pigou-Dalton Transfers," IRISS Working Paper Series 2007-02, IRISS at CEPS/INSTEAD.
- Paolo Liberati, 2001. "The Distributional Effects of Indirect Tax Changes in Italy," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 8(1), pages 27-51, January.
- Hooi Hooi Lean & Michael McAleer & Wing-Keung Wong, 2010.
"Market Efficiency of Oil Spot and Futures: A Stochastic Dominance Approach,"
CIRJE F-Series
CIRJE-F-705, CIRJE, Faculty of Economics, University of Tokyo.
- Lean, H.H. & McAleer, M.J. & Wong, W.-K., 2010. "Market Efficiency of Oil Spot and Futures: A Stochastic Dominance Approach," Econometric Institute Research Papers EI 2010-11, Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute.
- Hooi Hooi Lean & Michael McAleer & Wing-Keung Wong, 2010. "Market Efficiency of Oil Spot and Futures: A Stochastic Dominance Approach," CARF F-Series CARF-F-201, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
- Stéphane Mussard & Michel Terraza, 2009.
"Décompositions des mesures d'inégalité : le cas des coefficients de Gini et d'entropie,"
Recherches économiques de Louvain, De Boeck Université, vol. 75(2), pages 151-181.
- Stéphane Mussard & Michel Terraza, 2007. "Décompositions des mesures d'inégalité : le cas des coefficients de Gini et d'entropie," Cahiers de recherche 07-09, Departement d'économique de l'École de gestion à l'Université de Sherbrooke.
- Stéphane Mussard & Michel Terraza, 2009. "Décompositions des mesures d’inégalité : le cas des coefficients de Gini et d’entropie," Discussion Papers (REL - Recherches Economiques de Louvain) 2009022, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- MUSSARD Stéphane & TERRAZZA Michel, 2007. "Décomposition des mesures d'inégalité : le cas des coefficients de Gini et d'entropie," IRISS Working Paper Series 2007-03, IRISS at CEPS/INSTEAD.
- Luc Savard & Stéphane Mussard, 2005. "Horizontal and Vertical Redistribution and Micro-simulation," Cahiers de recherche 05-03, Departement d'économique de l'École de gestion à l'Université de Sherbrooke.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mtn:ancoec:030208. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Marco Alfo' (email available below). General contact details of provider: .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.