Journal ArticleDOI
On the Measurement of Inequality
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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
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The Variance as a subgroup decomposable measure of inequality
TL;DR: In this article, it was shown that the variance is the only absolute inequality index to satisfy the population share weighted subgroup decomposability property, which in turn implies that it also meets the two important requirements suggested by Theil and Shorrocks.
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Alternative Social Security Systems and Growth
Michael Kaganovich,Itzhak Zilcha +1 more
TL;DR: In this paper, the authors consider an OLG economy where government, in addition to running social security, also funds education of future workers by means of taxes collected from the current ones, and demonstrate that while the FF system results in relatively higher rates of physical capital accumulation, then under some conditions, other things equal, the PAYG social security regime leads to the choice of relatively higher respective levels of education tax rates in all generations.
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Estimating the impact of peer group effects on socioeconomic outcomes: Does the distribution of peer group characteristics matter?
TL;DR: In this paper, the authors argue that past attempts to estimate the influence of peer group effects may have used insufficiently flexible techniques, in particular, they have emphasized the mean of peer characteristics without taking into account their overall distribution.
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Age, Experience, and Schooling: Decomposing Earnings Inequality in the United States and Brazil*
David Lam,Deborah Levison +1 more
TL;DR: In this article, age and experience profiles of earnings inequality for U.S. and Brazilian males were analyzed and a standard human capital earnings equation was used to decompose the determinants of cross-sectional inequality profiles and demonstrate the important differences in the shape of the two countries' profiles and in their underlying components.
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Fairness Behind a Veil of Ignorance: A Welfare Analysis for Automated Decision Making
TL;DR: This work provides both heuristic justification and empirical evidence suggesting that a lower-bound on the welfare-based measures often leads to bounded inequality in algorithmic outcomes; hence presenting the first computationally feasible mechanism for bounding individual-level inequality.
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
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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.
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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.