Social welfare and the Gini coefficient revisited (Q1059539)
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scientific article; zbMATH DE number 3904278
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| English | Social welfare and the Gini coefficient revisited |
scientific article; zbMATH DE number 3904278 |
Statements
Social welfare and the Gini coefficient revisited (English)
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1985
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The question of conflict between the rankings of income distributions with the same mean by the Gini coefficient and by individualistic social welfare functions is re-examined. The negative result of \textit{D. Newbery} [J. Econ. Theory 2, 264-266 (1970)] is extended. However, positive results are obtainable which reverse Newbery's conclusion by admitting into the individual's utility index a measure of his position in the income distribution, or of his deprivation with respect to others' incomes.
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rankings of income distributions
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Gini coefficient
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social welfare functions
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0.8192152976989746
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0.8190246820449829
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0.8036136031150818
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0.8036136031150818
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0.7931786179542542
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