Related papers: A Simple and Effective Inequality Measure
The Gini index is a number that attempts to measure how equitably a resource is distributed throughout a population, and is commonly used in economics as a measurement of inequality of wealth or income. The Gini index is often defined as…
This paper proposes a statistical mechanics approach to the analysis of income distribution and inequality. A new distribution function, having its roots in the framework of k-generalized statistics, is derived that is particularly suitable…
The basic goal of quantization for probability distribution is to reduce the number of values, which is typically uncountable, describing a probability distribution to some finite set and thus to make an approximation of a continuous…
This article focuses on some properties of three tools used to measure economic inequalities with respect to a distribution of wealth $\mu$: Gini coefficient $G$, Hoover coefficient or Robin Hood coefficient $H$, and the Lorenz…
Social inequality is a topic of interest since ages, and has attracted researchers across disciplines to ponder over it origin, manifestation, characteristics, consequences, and finally, the question of how to cope with it. It is manifested…
Inequality measures are quantitative measures that take values in the unit interval, with a zero value characterizing perfect equality. Although originally proposed to measure economic inequalities, they can be applied to several other…
Concern about income inequality has become prominent in public discourse around the world. However, studies in behavioral economics and psychology have consistently shown that people prefer not equal but fair income distributions. Thus,…
Inequality (concentration) curves such as Lorenz, Bonferroni, Zenga curves, as well as a new inequality curve -- the $D$ curve, are broadly used to analyse inequalities in wealth and income distribution in certain populations. Quantile…
Classical inequality curves and inequality measures are defined for distributions with finite mean value. Moreover, their empirical counterparts are not resistant to outliers. For these reasons, quantile versions of known inequality curves…
Originally developed for measuring the heterogeneity of wealth measures, inequality indices are quantitative scores that take values in the unit interval, with the zero score characterizing perfect equality. In this paper, we draw attention…
We propose an extension of the univariate Lorenz curve and of the Gini coefficient to the multivariate case, i.e., to simultaneously measure inequality in more than one variable. Our extensions are based on copulas and measure inequality…
We provide a survey of the Kolkata index of social inequality, focusing in particular on income inequality. Based on the observation that inequality functions (such as the Lorenz function), giving the measures of income or wealth against…
Modeling equity in the allocation of scarce resources is a fast-growing concern in the humanitarian logistics field. The Gini coefficient is one of the most widely recognized measures of inequity and it was originally characterized by means…
The analysis of the USA 2001 income distribution shows that it can be described by at least two main components, which obey the generalized Tsallis statistics with different values of the q parameter. Theoretical calculations using the gas…
Given that the existing parametric functional forms for the Lorenz curve do not fit all possible size distributions, a universal parametric functional form is introduced. By using the empirical data from different scientific disciplines and…
A Lorenz curve is a graphical representation of the distribution of income or wealth within a population. The generalized Lorenz curve can be created by scaling the values on the vertical axis of a Lorenz curve by the average output of the…
Percentiles and more generally, quantiles are commonly used in various contexts to summarize data. For most distributions, there is exactly one quantile that is unbiased. For distributions like the Gaussian that have the same mean and…
In this paper we derive inferential results for a new index of inequality, specifically defined for capturing significant changes observed both in the left and in the right tail of the income distributions. The latter shifts are an apparent…
Quantile regression provides a framework for modeling statistical quantities of interest other than the conditional mean. The regression methodology is well developed for linear models, but less so for nonparametric models. We consider…
The Lorenz curve is a fundamental tool for analysing income and wealth distribution and inequality at national and regional levels. We utilise a one-way functional analysis of variance to decompose a time series of Lorenz curves and develop…