An ideal state of development, when viewed with fantasy, is nothing but a state or condition where light touches everybody without refraction. The diagonal line of the Lorenz Curve Framework represents such an ideal condition. In the presence of inequality, however, it deviates or refracts from...

Index of refraction is found to be a good measure of economic inequality within the Lorenz curve framework. It has origin in geometrical optics, where it measures bending of a ray of light passing from one transparent medium into another. As light refracts according to characteristics of...

Much of the literature on inequality, both that on the theoretical features of inequality measurement and that on the discussion of the results of empirical analysis, has preferred to focus on income inequality. This paper looks into the analysis of wealth inequality, which can be performed by...

This paper introduces in statistics the notion of the barycenter of the distribution of a non-negative random variable Y with a positive finite mean μY and the quantile function Q(x). The barycenter is denoted by μX and defined as the expected value of the random variable X having the...