Inequality, welfare and monotonicity

Amiel, Yoram and Cowell, Frank ORCID: 0000-0002-3778-2152 (1997) Inequality, welfare and monotonicity. Distributional Analysis Research Programme; DARP 29 (29). Suntory and Toyota International Centres for Economics and Related Disciplines, London, UK.

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Abstract

We stablish a general relationship between the standard form of the individualistic social-welfare function and the "reduced-form" version that is expressed in terms of inequality and mean income. This shows the relationship between the property of monotonicity and the slope of the equity-efficient trade-off. Particularly simple results are available for a large class of inequality measures that includes the Gini. These results do not require differentiability of the social-welfare function.

Item Type:	Monograph (Discussion Paper)
Official URL:	http://sticerd.lse.ac.uk
Additional Information:	© 1997 the authors
Divisions:	Economics STICERD Centre for Analysis of Social Exclusion
Subjects:	H Social Sciences > HB Economic Theory
JEL classification:	C - Mathematical and Quantitative Methods > C1 - Econometric and Statistical Methods: General > C13 - Estimation D - Microeconomics > D6 - Welfare Economics > D63 - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
Date Deposited:	27 Apr 2007
Last Modified:	01 Oct 2024 04:02
URI:	http://eprints.lse.ac.uk/id/eprint/2222

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