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We axiomatically characterize the Theil ordering of income inequality. In addition to the uncontroversial axioms of anonymity, homogeneity, replication invariance, strong directedness, and a standard continuity property, we appeal to both an independence and a decomposability axioms. These two...
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We provide a simple proof of Foster's (1983) characterization of the Theil inequality index.
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We provide a simple proof of Foster's (1983) characterization of the Theil inequality index.
Persistent link: https://www.econbiz.de/10010719386