Measuring inequality in society

Mills, T. M. and Lenard, C. T. and Chan, K. C. and Williams, Ruth F. G. (2016) Measuring inequality in society. In: 4th Stochastic Modeling Techniques and Data Analysis International Conference with Demographics Workshop (SMTDA 2016), 1-4 June 2016, Valletta, Malta.

Abstract

Some inequalities in society seem unfair. Hence, governments around the world develop policies aimed at reducing unwarranted inequalities. There is a need for well-founded measures of inequality to monitor the impact of such policies. Are these policies effective in moving society to be more egalitarian or not? The discipline of economics has developed many such measures over the last century: examples include the Lorenz curve, the measures of Gini, Atkinson and Theil. Although these measures have been focussed on measuring inequality of incomes, they have been adapted to other situations too. In this expository paper, we will present an introduction to measures of economic inequality in society from a mathematical perspective, and highlight policy implications of such measures. This is an area in which mathematics and economics can contribute to justice and fairness in society.


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Item Type: Conference or Workshop Item (Commonwealth Reporting Category E) (Paper)
Refereed: No
Item Status: Live Archive
Additional Information: © Copyright 2016 by ISAST: International Society for the Advancement of Science and Technology.
Faculty / Department / School: Current - Faculty of Business, Education, Law and Arts - School of Management and Enterprise
Date Deposited: 15 May 2018 02:27
Last Modified: 16 May 2018 05:23
Uncontrolled Keywords: inequality, economics, Lorenz, Gini, Atkinson, Theil
Fields of Research : 08 Information and Computing Sciences > 0802 Computation Theory and Mathematics > 080202 Applied Discrete Mathematics
14 Economics > 1402 Applied Economics > 140299 Applied Economics not elsewhere classified
Socio-Economic Objective: B Economic Development > 91 Economic Framework > 9101 Macroeconomics > 910106 Income Distribution
E Expanding Knowledge > 97 Expanding Knowledge > 970114 Expanding Knowledge in Economics
URI: http://eprints.usq.edu.au/id/eprint/34029

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