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

  • Moore, Robert E.

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: https://mpra.ub.uni-muenchen.de/10171/1/MPRA_paper_10171.pdf
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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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  1. 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.
  2. 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.
  3. 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.
  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.
  5. Kakwani, Nanak, 1980. "On a Class of Poverty Measures," Econometrica, Econometric Society, vol. 48(2), pages 437-46, March.
  6. Jean, William H, 1980. " The Geometric Mean and Stochastic Dominance," Journal of Finance, American Finance Association, vol. 35(1), pages 151-58, March.
  7. Atkinson, Anthony B., 1970. "On the measurement of inequality," Journal of Economic Theory, Elsevier, vol. 2(3), pages 244-263, September.
  8. Fields, Gary S & Fei, John C H, 1978. "On Inequality Comparisons," Econometrica, Econometric Society, vol. 46(2), pages 303-16, March.
  9. 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.
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