Related papers: Does the Gini index represent people's views on in…
We demonstrate that Gini coefficients can be used as unified metrics to evaluate many-versus-many (all-to-all) similarity in vector spaces. Our analysis of various image datasets shows that images with the highest Gini coefficients tend to…
In this paper, we derive a general representation for the expectation of the Gini coefficient estimator in terms of the Laplace transform of the underlying distribution, together with the mean and the Gini coefficient of its exponentially…
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).…
The evolution of global income distribution from 1988 to 2018 is analyzed using purchasing power parity exchange rates and well-established statistical distributions. This research proposes the use of two separate distributions to more…
Preferences of individuals are distributions of elements generated by generalized functions. Models of economic decision-making derived from such distributions are consistent with results of physiological experiments, and explain any…
Differences in data distributions between demographic groups, known as the problem of infra-marginality, complicate how people evaluate fairness in machine learning models. We present a user study with 85 participants in a hypothetical…
The key indicators of model stability are the population stability index (PSI), which uses the difference in population distribution, and the Kolmogorov-Smirnov statistic (KS) between two distributions. When deriving a binary choice model,…
Empirical welfare analyses often impose stringent parametric assumptions on individuals' preferences and neglect unobserved preference heterogeneity. We develop a framework to conduct individual and social welfare analysis for discrete…
This paper introduces the Relative Inequality Index at the Maximum (IDRM), a novel and intuitive measure designed to capture inequality within a population, such as income inequality. The index is based on the idea that individuals…
How should we decide which fairness criteria or definitions to adopt in machine learning systems? To answer this question, we must study the fairness preferences of actual users of machine learning systems. Stringent parity constraints on…
This paper develops theoretical criteria and econometric methods to rank policy interventions in terms of welfare when individuals are loss-averse. Our new criterion for "loss aversion-sensitive dominance" defines a weak partial ordering of…
Application of some basic notions and statistics of ageing distributions used in mathematical theory of reliability including the Gini-type index is discussed as a methodological tool for investigation of human population ageing and…
In a two-stage model of choice a decision maker first shortlists a given menu and then applies her preferences. We show that a sizeable class of these models run into significant issues in terms of identification of preferences…
We investigate the Brazilian personal income distribution using data from National Household Sample Survey (PNAD), an annual research available by the Brazilian Institute of Geography and Statistics (IBGE). It provides general…
We consider transferable-utility profit-sharing games that arise from settings in which agents need to jointly choose one of several alternatives, and may use transfers to redistribute the welfare generated by the chosen alternative. One…
The Gini score is a popular tool in statistical modeling and machine learning for model validation and model selection. It is a purely rank based score that allows one to assess risk rankings. The Gini score for statistical modeling has…
How should well-being be prioritised in society, and what trade-offs are people willing to make between fairness and personal well-being? We investigate these questions using a stated preference experiment with a nationally representative…
We introduce a minimal agent-based model to qualitatively conceptualize the allocation of limited wealth among more abundant opportunities. We study the interplay of power, satisfaction and frustration in distribution, concentration, and…
How can we limit wealth disparities while stimulating economic flows in sustainable societies? To examine the link between these concepts, we propose an econophysics asset exchange model with the surplus stock of the wealthy. The wealthy…
Given a vast concern about high income inequality in Thailand as opposed to empirical findings around the world showing people's preference for fair income inequality over unfair income equality, it is therefore important to examine whether…