The ?-Statistics Approach to Income Distribution Analysis (Elements in Econophysics)

Clementi, Fabio Fabio Clementi, Mauro Gallegati, Lisa Gianmoena, Giorgio Kaniadakis, Simone Landini,

ISBN 10: 1009446355 / ISBN 13: 9781009446358

Published by Cambridge University Press -, 2005

About this Item

Seller Inventory # 6666-GRD-9781009446358

Bibliographic Details

• Title: The ?-Statistics Approach to Income Distribution Analysis (Elements in Econophysics)
• Publisher: Cambridge University Press -
• Publication Date: 2005
• Language: English
• ISBN 10: 1009446355
• ISBN 13: 9781009446358
• Binding: paperback
• Condition: New

About this title

Synopsis

This Element presents the κ-generalized distribution, a statistical model tailored for the analysis of income distribution. Developed over years of collaborative, multidisciplinary research, it clarifies the statistical properties of the model, assesses its empirical validity and compares its effectiveness with other parametric models. It also presents formulas for calculating inequality indices within the κ-generalized framework, including the widely used Gini coefficient and the relatively lesser-known Zanardi index of Lorenz curve asymmetry. Through empirical illustrations, the Element criticizes the conventional application of the Gini index, pointing out its inadequacy in capturing the full spectrum of inequality characteristics. Instead, it advocates the adoption of the Zanardi index, accentuating its ability to capture the inherent heterogeneity and asymmetry in income distributions.