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Inequality and Welfare Evaluation of Heterogeneous Income Distributions

Author

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  • Anthony F. Shorrocks

Abstract

This paper establishes the principles which should govern the welfare and inequality analysis of heterogeneous income distributions. Two basic criteria—the 'equity preference' condition and the 'compensation principle'—are shown to be fundamentally incompatible. The paper favours the latter, thereby vindicating the traditional method of dealing with heterogeneous samples.

Suggested Citation

  • Anthony F. Shorrocks, 2004. "Inequality and Welfare Evaluation of Heterogeneous Income Distributions," WIDER Working Paper Series RP2004-01, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:rp2004-01
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    File URL: https://www.wider.unu.edu/sites/default/files/rp2004-001.pdf
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