An inequality measure for stochastic allocations

• 成果类型: Article
• 署名作者: Chew, Soo Hong; Sagi, Jacob S.
• 署名单位: Vanderbilt University; National University of Singapore; National University of Singapore; Hong Kong University of Science & Technology
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/j.jet.2011.05.002
• 发表日期: 2012
• 页码: 1517-1544
• 关键词: income inequality; social welfare; UTILITY THEORY; RISK; uncertainty; Other regarding; preference

摘要

Few papers in the literature on inequality measurement deal with uncertainty, particularly when the ranking of cohorts may not be fixed. We present a set of axioms implying such a class of inequality measures under uncertainty that is a one-parameter extension of the generalized Gini mean over the distribution of average allocations. The extension consists of a quadratic term accounting for inter-personal correlations. In particular, our measure can simultaneously accommodate a preference for shared destiny, a preference for probabilistic mixtures over unfair allocations, and a preference for fairness for sure over fairness in expectation. (c) 2011 Elsevier Inc. All rights reserved.