Ranking income distributions using the Geometric Mean and a related general measure
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.
|Date of creation:||Jul 1996|
|Publication status:||Published in Southern Economic Journal 1.63(1996): pp. 69-75|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
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.:
- 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.
- 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.
- Fields, Gary S & Fei, John C H, 1978. "On Inequality Comparisons," Econometrica, Econometric Society, vol. 46(2), pages 303-316, March.
- 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.
- Jean, William H, 1980. " The Geometric Mean and Stochastic Dominance," Journal of Finance, American Finance Association, vol. 35(1), pages 151-158, March.
- 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 215-242, June.
- Kakwani, Nanak, 1980. "On a Class of Poverty Measures," Econometrica, Econometric Society, vol. 48(2), pages 437-446, March.
- 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.
- Atkinson, Anthony B., 1970. "On the measurement of inequality," Journal of Economic Theory, Elsevier, vol. 2(3), pages 244-263, September.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:10171. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter)
If references are entirely missing, you can add them using this form.