Economic Index Numbers; Mean Values; Luxembourg Income Study
Abstract :
[en] We examine some ordinal measures of inequality that are familiar from the literature. These measures have a quite simple structure in that their values are determined by combinations of specific summary statistics such as the extreme values and the arithmetic mean of a distribution. In spite of their common appearance, there seem to be no axiomatizations available so far, and this paper is intended to fill that gap. In particular, we consider the absolute and relative variants of the range; the max-mean and the mean-min orderings; and quantile-based measures. In addition, we provide some empirical observations that are intended to illustrate that, although these orderings are straightforward to define, some of them display a surprisingly high correlation with alternative (more complex) measures.
Disciplines :
Social economics
Author, co-author :
d'ambrosio, Conchita ; University of Luxembourg > Faculty of Language and Literature, Humanities, Arts and Education (FLSHASE) > Integrative Research Unit: Social and Individual Development (INSIDE)
Bossert, Walter; Université de Montréal - UdeM
Kamaga, Kohei; Sophia University, Tokyo
External co-authors :
yes
Language :
English
Title :
Extreme values, means, and inequality measurement
Publication date :
2021
Journal title :
Review of Income and Wealth
ISSN :
1475-4991
Publisher :
Blackwell, Oxford, United Kingdom
Volume :
67
Pages :
564-590
Peer reviewed :
Peer Reviewed verified by ORBi
FnR Project :
FNR12677653 - Financial Strain And Economic Instability: Effects On Wellbeing And Behaviour Over The Life Course, 2018 (01/09/2019-31/08/2022) - Conchita D'ambrosio
