Richness orderings

Arup Bose, Satya Chakravarty and Conchita D’Ambrosio ()
Authors registered in the RePEc Author Service: Conchita D'Ambrosio

The Journal of Economic Inequality, 2014, vol. 12, issue 1, 5-22

Abstract: An index of richness in a society is a measure of the extent of its affluence. This paper presents an analytical discussion on several indices of richness and their properties. It also develops criteria for ordering alternative distributions of income in terms of their richness. Given a line of richness, an income level above which a person is regarded as rich, and depending on the redistributive principle, it is shown that the ranking relation can be implemented by seeking dominance with respect to the generalized Lorenz curve of the rich or the affluence profile of the society. When the line of richness is assumed to be variable, we need to employ the stochastic dominance conditions for ordering the income distributions. Copyright Springer Science+Business Media New York 2014

Keywords: Richness measurement; Poverty; Equity; D63 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (6)

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DOI: 10.1007/s10888-013-9249-4

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