Reference : Richness Orderings
Scientific journals : Article
Business & economic sciences : Social economics
Richness Orderings
D'Ambrosio, Conchita mailto [University of Luxembourg > Faculty of Language and Literature, Humanities, Arts and Education (FLSHASE) > Integrative Research Unit: Social and Individual Development (INSIDE) >]
Bose, Arup [Indian Statistical Institute, Kolkata, India]
Chakravarty, Satya [Indian Statistical Institute, Kolkata, India]
Journal of Economic Inequality
Springer Science & Business Media B.V.
[en] Richness Measurement ; Poverty ; Equity
[en] An index of richness in a society is a measure of the extent of its affluence. This paper presents an analytical discussion on several indices of richness and their properties. It also develops criteria for ordering alternative distributions of income in terms of their richness. Given a line of richness, an income level above which a person is regarded as rich, and depending on the redistributive principle, it is shown that the ranking relation can be implemented by seeking dominance with respect to the generalized Lorenz curve of the rich or the affluence pro file of the society. When the line of richness is assumed to be variable, we need to employ the stochastic dominance conditions for ordering the income distributions.

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