VALUE JUDGEMENTS IMPLIED BY THE USE OF VARIOUS MEASURES OF INCOME INEQUALITY*

Yaakov Kondor

Review of Income and Wealth, 1975, vol. 21, issue 3, 309-321

Abstract: If a welfare economist wants to express income inequality in a sensible way by a single parameter, he has to make rather strong assumptions regarding the social preferences of his fellow citizens. Formulas are presented with whose aid one is able to test whether or not these assumptions hold. The standard measures used nowadays contradict prevailing preferences. If no common single measure can be found which fits the social preferences of almost all individuals concerned tolerably well, additional parameters measuring poverty and riches separately are necessary.

Date: 1975
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