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

Clementi

Softcover

ISBN 10: 1009446355 ISBN 13: 9781009446358

Publisher: Cambridge University Press, 2005

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.

Edition details

• Publisher: Cambridge University Press
• Publication date: 2005
• Language: English
• ISBN 10: 1009446355
• ISBN 13: 9781009446358
• Binding: Paperback
• Number of pages: 72