dc.contributor.author |
Creedy, John |
|
dc.contributor.author |
Subramanian, S. |
|
dc.date.accessioned |
2022-10-27T01:47:50Z |
|
dc.date.available |
2022-10-27T01:47:50Z |
|
dc.date.copyright |
2022 |
|
dc.date.issued |
2022 |
|
dc.identifier.uri |
https://ir.wgtn.ac.nz/handle/123456789/25477 |
|
dc.description.abstract |
This paper explores a single-parameter generalization of the Gini inequality measure. Taking the starting point to be the Borda-type social welfare function, which is known to generate the standard Gini measure, in which incomes (in ascending order) are weighted by their inverse rank, the generalisation uses a class of non-linear functions. These are based on the so-called ‘metallic sequences’ of number theory, of which the Fibonacci sequence is the best-known. The value judgements implicit in the measures are explored in detail. Comparisons with other well-known Gini measures, along with the Atkinson measure, are made. These are examined within the context of the famous ‘leaky bucket’ thought experiment, which concerns the maximum leak that a judge is prepared to tolerate, when making an income transfer from a richer to a poorer person. Inequality aversion is thus viewed in terms of being an increasing function of the leakage that is regarded as acceptable. |
en_NZ |
dc.format |
pdf |
en_NZ |
dc.language.iso |
en_NZ |
|
dc.publisher |
Te Herenga Waka—Victoria University of Wellington |
en_NZ |
dc.relation.ispartofseries |
Working Papers in Public Finance ; 11/2022 |
en_NZ |
dc.subject |
Income inequality |
en_NZ |
dc.subject |
Gini coefficient |
en_NZ |
dc.subject |
Extensions of Gini |
en_NZ |
dc.subject |
Social welfare functions |
en_NZ |
dc.subject |
Equally distributed equivalent income |
en_NZ |
dc.subject |
Atkinson |
en_NZ |
dc.subject |
Inequality aversion |
en_NZ |
dc.subject |
Value judgements |
en_NZ |
dc.subject |
Efficiency and equity |
en_NZ |
dc.subject |
Leaky bucket experiment |
en_NZ |
dc.title |
Exploring A New Class of Inequality Measures and Associated Value Judgements: Gini and Fibonacci-Type Sequences |
en_NZ |
dc.type |
Text |
en_NZ |
dc.rights.holder |
www.victoria.ac.nz/sacl/about/cpf |
en_NZ |
vuwschema.contributor.unit |
School of Accounting and Commercial Law |
en_NZ |
vuwschema.type.vuw |
Working or Occasional Paper |
en_NZ |
vuwschema.subject.anzsrcforV2 |
380119 Welfare economics |
en_NZ |