Axioms and Intuitions about Societal Inequality
Journal of Income Distribution®(2024)
Abstract
We show that Corrado Gini’s “concentration ratio” is an informative measure of experienced inequality that (as he pointed out) varies from one (his “maximum concentration”) to zero (“minimum concentration”), a feature that does not hold (except in infinite populations) for the measure advocated in the contribution to this symposium by our colleague, Debraj Ray. Through a social network representation of inequality and a series of examples, we clarify the differing intuitions about the nature of inequality that alternative measures of inequality capture.
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