Arbeitspapier
Efficiency, Equity, and Generalized Lorenz Dominance
We decompose the generalized Lorenz order into a size and a distribution component. The former is represented by stochastic dominance, the latter by the standard Lorenz order. We show that it is always possible, given generalized Lorenz dominance between two distributions F and G, to find distributions H1 and H2 such that F stochastically dominates H1 and H1 Lorenz-dominates G, and such that F Lorenz-dominates H2 and H2 stochastically dominates G. We also show that generalized Lorenz dominance is characterized by this property and discuss the implications of these results for choice under risk.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 343
- Klassifikation
-
Wirtschaft
- Thema
-
Income distribution
welfare dominance
Lorenz order
stochastic dominance
decisions under risk
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Kleiber, Christian
Kraemer, Walter
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2000
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Kleiber, Christian
- Kraemer, Walter
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2000
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