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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Journal ArticleDOI
The cost of uncertain life span
TL;DR: A utility-theoretic model is calibrated that shows that 1 year in standard deviation is worth about half a life year in the USA, and Accounting for the cost of life-span variance appears to amplify recently discovered patterns of convergence in world average human well-being.
Journal ArticleDOI
Measuring the Economic Affluence Between Populations of Income Receivers
TL;DR: In this article, a measure of relative economic affluence between income distributions with different means is proposed, which is applied to the U.S. white and black household income distributions of 1967 and 1979.
Posted Content
Alternative Social Security Systems and Growth
TL;DR: In this article, 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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What is the Income “Cost of a Child”? Exact Equivalence Scales for Canadian Two-Parent Families
TL;DR: This article used a complete demand system approach and imposing the condition of equiva-lence scale exactness independent of a base to estimate the income required for children in two-parent families.
Book ChapterDOI
Heuristic Measures of Interestingness
TL;DR: This paper presents and empirically compares sixteen heuristic measures that evaluate the structure of a summary to assign a single real-valued index that represents its interestingness relative to other summaries generated from the same database.
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.
Journal ArticleDOI
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.