Efficiency based measures of inequality
Andonie C, Kuzmics C, Rogers BW (2014) Center for Mathematical Economics Working Papers; 512.
Bielefeld: Center for Mathematical Economics.
Diskussionspapier
| Veröffentlicht | Englisch
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IMW_working_paper_512a.pdf
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Autor*in
Andonie, Costel;
Kuzmics, ChristophUniBi ;
Rogers, Brian W.
Abstract / Bemerkung
How should we make value judgments about wealth inequality? Harsanyi (1953) proposes
to take an individual who evaluates her well-being by expected utility and ask her to evaluate
the wealth possibilities ex-ante (i.e. before she finds her place in society, i.e., under the \veil
of ignorance" of Rawls (1971)) assuming that she will be allocated any one of the possible
wealth levels with equal probability. We propose a different notion of how wealth levels
are allocated, based on a competition or contest. We find that inequality can be captured
through the equilibrium properties of such a game. We connect the inequality measures
so derived to existing measures of inequality, and demonstrate the conditions under which
they satisfy the received key axioms of inequality measures (anonymity, homogeneity and
the Pigou-Dalton transfer principle). Our approach also provides a natural way to discuss
the tradeoff between greater total wealth and greater inequality.
Stichworte
utilitarianism;
inequality;
contests
Erscheinungsjahr
2014
Serientitel
Center for Mathematical Economics Working Papers
Band
512
Seite(n)
21
ISSN
0931-6558
Page URI
https://pub.uni-bielefeld.de/record/2901597
Zitieren
Andonie C, Kuzmics C, Rogers BW. Efficiency based measures of inequality. Center for Mathematical Economics Working Papers. Vol 512. Bielefeld: Center for Mathematical Economics; 2014.
Andonie, C., Kuzmics, C., & Rogers, B. W. (2014). Efficiency based measures of inequality (Center for Mathematical Economics Working Papers, 512). Bielefeld: Center for Mathematical Economics.
Andonie, Costel, Kuzmics, Christoph, and Rogers, Brian W. 2014. Efficiency based measures of inequality. Vol. 512. Center for Mathematical Economics Working Papers. Bielefeld: Center for Mathematical Economics.
Andonie, C., Kuzmics, C., and Rogers, B. W. (2014). Efficiency based measures of inequality. Center for Mathematical Economics Working Papers, 512, Bielefeld: Center for Mathematical Economics.
Andonie, C., Kuzmics, C., & Rogers, B.W., 2014. Efficiency based measures of inequality, Center for Mathematical Economics Working Papers, no.512, Bielefeld: Center for Mathematical Economics.
C. Andonie, C. Kuzmics, and B.W. Rogers, Efficiency based measures of inequality, Center for Mathematical Economics Working Papers, vol. 512, Bielefeld: Center for Mathematical Economics, 2014.
Andonie, C., Kuzmics, C., Rogers, B.W.: Efficiency based measures of inequality. Center for Mathematical Economics Working Papers, 512. Center for Mathematical Economics, Bielefeld (2014).
Andonie, Costel, Kuzmics, Christoph, and Rogers, Brian W. Efficiency based measures of inequality. Bielefeld: Center for Mathematical Economics, 2014. Center for Mathematical Economics Working Papers. 512.
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2019-09-06T09:18:36Z
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