Showing 1 - 10 of 60
Persistent link: https://www.econbiz.de/10011071294
We study a very general setting, and propose a procedure for estimating the critical values of the extended Kolmogorov-Smirnov tests of First and Second Order Stochastic Dominance due to McFadden (1989) in the general k-prospect case. We allow for the observations to be generally serially...
Persistent link: https://www.econbiz.de/10010746327
In this paper we compare overall as well as downside risk measures with respect to the criteria of first and second order stochastic dominance. While the downside risk measures, with the exception of tail conditional expectation, are consistent with first order stochastic dominance, overall risk...
Persistent link: https://www.econbiz.de/10011071496
Temkin (1986,1993) sets out a philosophical basis for the analysis of income inequality that provides an important … axiomatic structure and we use this structure to derive a new class of inequality indices and an inequality ordering. This class … of indices has a family relationship to well-known measures of inequality, deprivation and poverty. The ordering is shown …
Persistent link: https://www.econbiz.de/10010884654
Inequality measurement involves explicit or implicit value judgements. The subjective approach to inequality …
Persistent link: https://www.econbiz.de/10010928600
This paper investigates the relationship between growth and inequality from a demographic point of view. In an extended … inequality is at first positive and then may be negative in the process of population aging. The results are consistent with the …
Persistent link: https://www.econbiz.de/10010928630
This paper studies cross-country patterns of economic growth from the viewpoint of income distribution dynamics. Such a perspective raises new empirical and theoretical issues in growth analysis: the profound empirical regularity is an \emerging twin peaks" in the cross-sectional distribution,...
Persistent link: https://www.econbiz.de/10010928725
This article provides a brief overview of the key issues in inequality measurement and has been prepared for inclusion …
Persistent link: https://www.econbiz.de/10010928769
Averaging methods are routinely used in order to limit biases resulting from the mismeasurement of permanent incomes. The Solon/Zimmerman estimator regresses a single-year measurement of the child's resources on a T-period average of the parents' income while the Behrman/Taubman estimator...
Persistent link: https://www.econbiz.de/10010928772
It is known from the literature on uncertainty that in cases where individuals express a preference for a high win-probability bet over a bet with high winnings they nevertheless will bid more to obtain the bet with high winnings. We investigate whether a similar phenomenon applies in the...
Persistent link: https://www.econbiz.de/10010928778