When is a Fixed Income Distribution Optimal?

John Chipman

Chapter 13 in Arrow and the Foundations of the Theory of Economic Policy, 1987, pp 371-381 from Palgrave Macmillan

Abstract: Abstract In making international comparisons among countries, or in assessing the progress of a country over time, it is customary in applied research to act as though the relevant information could be summarized by a ‘sufficient statistic’, namely the country’s income distribution. From this one obtains the mean (per capita) income and the curve of concentration, or ‘Lorenz curve’, making possible comparisons of different economies with the same per capita income.1

Keywords: Utility Function; Individual Preference; Social Welfare Function; Neoclassical Economic; Indirect Utility Function (search for similar items in EconPapers)
Date: 1987
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DOI: 10.1007/978-1-349-07357-3_14

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