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We introduce a new class of generalized measures of relative deprivation. The class takes the form of a power mean of order p . A characteristic of the class is that depending on the value of the proximity-sensitive parameter p, the class is capable of accommodating both a decreasing weight (the...
Persistent link: https://www.econbiz.de/10012946637
The Gini coefficient features prominently in Amartya Sen's 1973 and 1997 seminal work on income inequality and social welfare. We construct the Gini coefficient from socialpsychological building blocks, reformulating it as a ratio between a measure of social stress and aggregate income. We...
Persistent link: https://www.econbiz.de/10014084076