Journal ArticleDOI
Generalized gini inequality indices
John A. Weymark,John A. Weymark +1 more
TLDR
It is shown that when incomes are ranked in descending order the social-evaluation function corresponding to the Gini relative inequality index can be written as a linear function with the weights being the even numbers in increasing order and the weights to be an arbitrary non-decreasing sequence of numbers.About:
This article is published in Mathematical Social Sciences.The article was published on 1981-08-01. It has received 425 citations till now. The article focuses on the topics: Log sum inequality & Rearrangement inequality.read more
Citations
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Journal ArticleDOI
Advances in prospect theory: cumulative representation of uncertainty
Amos Tversky,Daniel Kahneman +1 more
TL;DR: Cumulative prospect theory as discussed by the authors applies to uncertain as well as to risky prospects with any number of outcomes, and it allows different weighting functions for gains and for losses, and two principles, diminishing sensitivity and loss aversion, are invoked to explain the characteristic curvature of the value function and the weighting function.
Book ChapterDOI
Measurement of inequality
TL;DR: In this article, the analysis of inequality is placed in the context of recent developments in economics and statistics, and it is shown that inequality can be expressed as a function of economic and statistical factors.
Journal ArticleDOI
A single-parameter generalization of the Gini indices of inequality☆
David Donaldson,John A. Weymark +1 more
Journal ArticleDOI
An Axiomatization of Cumulative Prospect Theory
Peter P. Wakker,Amos Tversky +1 more
TL;DR: In this paper, the authors present a method for axiomatizing a variety of models for decision making under uncertainty, including Expected Utility and Cumulative Prospect Theory, and identify situations that permit consistent inferences about the ordering of value differences.
Book
Theory of decision under uncertainty
TL;DR: In this article, the authors describe the classical axiomatic theories of decision under uncertainty, as well as critiques thereof and alternative theories, focusing on the meaning of probability, discussing some definitions and surveying their scope of applicability.
References
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Journal ArticleDOI
On the Measurement of Inequality
TL;DR: In this paper, the problem of comparing two frequency distributions f(u) of an attribute y which for convenience I shall refer to as income is defined as a risk in the theory of decision-making under uncertainty.
Book
On Economic Inequality
Amartya Sen,James E. Foster +1 more
TL;DR: In this paper, Amartya Sen relates the theory of welfare economics to the study of economic inequality and presents a systematic treatment of the conceptual framework as well as the practical problems of measurement of inequality.
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