Inequity aversion, welfare measurement and the Gini index

Ulrich Schmidt and Philipp C. Wichardt ()
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Philipp C. Wichardt: Kiel Institute for the World Economy

Social Choice and Welfare, 2019, vol. 52, issue 3, No 8, 585-588

Abstract: Abstract Integrating individual inequity aversion (Fehr and Schmidt in Q J Econ 114:817–868, 1999) into a utilitarian social welfare function, we derive a simple welfare measure which comprises both GDP and income inequality as measured by the Gini-index.

Date: 2019
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Working Paper: Inequity Aversion, Welfare Measurement and the Gini Index (2018)
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DOI: 10.1007/s00355-018-1149-x

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