Related papers: Revisiting Gini for equitable humanitarian logisti…
In this paper, we study the inequality indices for some models of wealth exchange. We calculated Gini index and newly introduced k-index and compare the results with reported empirical data available for different countries. We have found…
There are many news articles reporting the obstacles confronting poverty-stricken households in access to public transits. These barriers create a great deal of inconveniences for these impoverished families and more importantly, they…
We consider strategy proof mechanisms for facility location which maximize equitability between agents. As is common in the literature, we measure equitability with the Gini index. We first prove a simple but fundamental impossibility…
We propose a new Gini correlation to measure dependence between a categorical and numerical variables. Analogous to Pearson $R^2$ in ANOVA model, the Gini correlation is interpreted as the ratio of the between-group variation and the total…
To demonstrate the usefulness of physical approaches for the study of realistic economic systems, we investigate the inequality of players' wealth in one of the most extensively studied econophysical models, namely, the minority game (MG).…
Reducing wealth inequality and increasing utility are critical issues. This study reveals the effects of redistribution and consumption morals on wealth inequality and utility. To this end, we present a novel approach that couples the…
Linear stochastic models and discretized kinetic theory are two complementary analytical techniques used for the investigation of complex systems of economic interactions. The former employ Langevin equations, with an emphasis on stock…
Via an axiomatic approach, we characterize the family of n-th order Gini deviation, defined as the expected range over n independent draws from a distribution, to quantify joint dispersion across multiple observations. This family extends…
The argument that the alarming level of Gini coefficient is 0.4 is very popular, especially in the media industry, all around the world for a long time. Although the 0.4 standard is widely accepted, the derivation of the value lacks rigid…
In this paper, we draw attention to a promising yet slightly underestimated measure of variability - the Gini coefficient. We describe two new ways of defining and interpreting this parameter. Using our new representations, we compute the…
Price of anarchy quantifies the degradation of social welfare in games due to the lack of a centralized authority that can enforce the optimal outcome. At its antipodes, mechanism design studies how to ameliorate these effects by…
Optimal transport has become part of the standard quantitative economics toolbox. It is the framework of choice to describe models of matching with transfers, but beyond that, it allows to: extend quantile regression; identify discrete…
Over the last few decades, European rail transport has undergone major changes as part of the process of liberalization set out in European regulations. In this context of liberalization, railway undertakings compete with each other for the…
As AI systems, particularly generative models, increasingly influence decision-making, ensuring that they are able to fairly represent diverse human preferences becomes crucial. This paper introduces a novel framework for evaluating…
Standard Gini covariance and Gini correlation play important roles in measuring the dependence of random variables with heavy tails. However, the asymmetry brings a substantial difficulty in interpretation. In this paper, we propose a…
We consider the problem of generating rankings that are fair towards both users and item producers in recommender systems. We address both usual recommendation (e.g., of music or movies) and reciprocal recommendation (e.g., dating).…
We consider Gini's mean difference statistic as an alternative to the empirical variance in the settings of finite populations where simple random samples are drawn without replacement. In particular, we discuss specific (in the finite…
Linearization methods are customarily adopted in sampling surveys to obtain approximated variance formulae for estimators of nonlinear functions of finite population totals - such as ratios, correlation coefficients or measures of income…
We study the effect of altruism in two simple asset exchange models: the yard sale model (winner gets a random fraction of the poorer player's wealth) and the theft and fraud model (winner gets a random fraction of the loser's wealth). We…
Social inequality is traditionally measured by the Gini-index ($g$). The $g$-index takes values from $0$ to $1$ where $g=0$ represents complete equality and $g=1$ represents complete inequality. Most of the estimates of the income or wealth…