Journal ArticleDOI
On the Measurement of Inequality
TLDR
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.About:
This article is published in Journal of Economic Theory.The article was published on 1970-09-01. It has received 5002 citations till now. The article focuses on the topics: Income inequality metrics & Income distribution.read more
Citations
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A general class of additively decomposable inequality measures
James E. Foster,Artyom Shneyerov +1 more
TL;DR: In this paper, a generalized form of additive decomposability is defined for within-group and between-group inequality terms using a generalized mean in place of the arithmetic mean, which is based on a minimal form of the transfer principle.
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Revisiting the evidence for cardinal treatment of ordinal variables
Carsten Schröder,Shlomo Yitzhaki +1 more
TL;DR: In this paper, the authors illustrate the sensitivity of empirical studies to monotonic transformations using examples that relate to well-known empirical papers, and provide two theoretical conditions that enable us to rank ordinal variables.
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The welfare economics of the socialization of commodities
TL;DR: In this article, simple general equilibrium models are constructed to show that when decisions are reached by majority rule a commodity is more likely to be socialized the greater the inequality of income in the community and the less diverse the tastes of individuals for that commodity.
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Post-Fisc Distributions of Income in 1950, 1961, and 1970
TL;DR: In this paper, the distribution of income after allocating all government taxes and expenditures to households over two decades is compared over a period of 20 years, extending prior work back an additional decade and adding extensive sensi...
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Compositional data: the sample space and its structure
TL;DR: The log-ratio approach to compositional data (CoDa) analysis has now entered a mature phase as mentioned in this paper and has proven successful in solving a number of applied problems The algebraic-geometric structure of the sample space, tailored to those principles, was developed at the beginning of the millennium.
References
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Journal ArticleDOI
Risk Aversion in the Small and in the Large
TL;DR: In this article, a measure of risk aversion in the small, the risk premium or insurance premium for an arbitrary risk, and a natural concept of decreasing risk aversion are discussed and related to one another.
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Aspects of the theory of risk-bearing
Journal ArticleDOI
The Measurement of the Inequality of Incomes
TL;DR: JSTOR as discussed by the authors is a not-for-profit organization founded in 1995 to build trusted digital archives for scholarship, which is used to preserve their work and the materials they rely upon, and to build a common research platform that promotes the discovery and use of these resources.
Journal ArticleDOI
The Efficiency Analysis of Choices Involving Risk
Giora Hanoch,Haim Levy +1 more
TL;DR: In this paper, an analysis of the first step of the decision-making process of an individual decision maker among alternative risky ventures is presented, in terms of a single dimension such as money, both for the utility functions and for the probability distributions.