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Giving Gini direction: An asymmetry metric for economic disadvantage

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  • Bowden, Roger J.

Abstract

A high Gini coefficient could signal either dispersion or else skewness, often of more social concern. Supplementary metrics such as the Atkinson index diagnose the asymmetry with preassigned parameters that reflect user social values. An alternative is proposed that reflects redistribution aspirations as they might be seen by the subjects themselves. The resulting v-metric has a dollar redistribution dimension. The metric, essentially a form of double averaging, can be simplified in terms of means of the left and right entropic distribution shifts, with the partition entropy reflecting implied partition into incomes above or incomes below.

Suggested Citation

  • Bowden, Roger J., 2016. "Giving Gini direction: An asymmetry metric for economic disadvantage," Economics Letters, Elsevier, vol. 138(C), pages 96-99.
    • Handle: RePEc:eee:ecolet:v:138:y:2016:i:c:p:96-99
    DOI: 10.1016/j.econlet.2015.11.037
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    References listed on IDEAS

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    1. Shorrocks, A F, 1980. "The Class of Additively Decomposable Inequality Measures," Econometrica, Econometric Society, vol. 48(3), pages 613-625, April.
    2. David E. A. Giles, 2004. "Calculating a Standard Error for the Gini Coefficient: Some Further Results," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 66(3), pages 425-433, July.
    3. Atkinson, Anthony B., 1970. "On the measurement of inequality," Journal of Economic Theory, Elsevier, vol. 2(3), pages 244-263, September.
    4. George Deltas, 2003. "The Small-Sample Bias of the Gini Coefficient: Results and Implications for Empirical Research," The Review of Economics and Statistics, MIT Press, vol. 85(1), pages 226-234, February.
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    Cited by:

    1. Walter Kraemer & Holger Dette, 2016. "Beyond Inequality: A Novel Measure of Skewness and its Properties," CESifo Working Paper Series 5972, CESifo.
    2. Mario Schlemmer, 2021. "Including the asymmetry of the Lorenz curve into measures of economic inequality," Papers 2108.03623, arXiv.org, revised Sep 2022.
    3. Bowden, Roger J. & Posch, Peter N. & Ullmann, Daniel, 2018. "Income distribution in troubled times: Disadvantage and dispersion dynamics in Europe 2005–2013," Finance Research Letters, Elsevier, vol. 25(C), pages 36-40.
    4. Bowden, Roger J., 2017. "Distribution spread and location metrics using entropic separation," Statistics & Probability Letters, Elsevier, vol. 124(C), pages 148-153.

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    More about this item

    Keywords

    Gini coefficient; Income distribution; Partition entropy; Entropic shifts; v-metric;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
    • Z1 - Other Special Topics - - Cultural Economics

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