On the Measurement of Inequality under Uncertainty

Itzhak Gilboa, Elchanan Ben-Porath and David Schmeidler
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Elchanan Ben-Porath: Northwestern University [Evanston], TAU - Tel Aviv University

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Abstract: To take into account both ex ante and ex post inequality considerations, one has to deal with inequality and uncertainty simultaneously. Under certainty, much of the literature has focused on "comonotonically linear" indices: functionals that are linear on cones of income profiles that agree on the social ranking of the individuals. This family generalizes both the Gini index and the egalitarian index(minimal income). However, it does not include functionals such as the average of expected-Gini and Gini-of-expectation. In contrast, the family of min-of-means functionals is rich enough for this purpose.

Keywords: Microeconomics; welfare economics (search for similar items in EconPapers)
Date: 1997-07
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Published in Journal of Economic Theory, 1997, vol.75,n°1, pp.194-204. ⟨10.1006/jeth.1997.2280⟩

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Journal Article: On the Measurement of Inequality under Uncertainty (1997)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00481334

DOI: 10.1006/jeth.1997.2280

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