The distribution of income, incomplete information and the rank and Pareto criteria

Rubin Saposnik

Public Choice, 1988, vol. 59, issue 2, 195-202

Abstract: One income distribution dominates another according to the rank criterion if the income in each position, ordered from lowest to highest, is at least as great in the former distribution as the corresponding income in the latter, with the strict inequality holding at least once. Pareto dominance implies rank dominance, but not conversely. But rank dominance does imply Pareto dominance where agents are expected utility maximizers relative to subjective probability distributions that characterize incomplete information regarding agents' positions in income distributions. This suggests the rank criterion as a way of evaluating income distributions without resorting to interpersonal comparisons of utility. Copyright Kluwer Academic Publishers 1988

Date: 1988
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DOI: 10.1007/BF00054454

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