Inequality and Envy
London School of Economics & Political Science (LSE) - Suntory and Toyota International Centres for Economics and Related Disciplines (STICERD)
University of Oldenburg - Department of Economics and Statistics
LSE STICERD Research Paper No. 88
Using a simple axiomatic structure we characterise two classes of inequality indices - absolute and relative - that take into account "envy" in the income distribution. The concept of envy incorporated here concerns the distance of each person's income from his or her immediately richer neighbour. This is shown to be similar to justice concepts based on income relativities.
Number of Pages in PDF File: 15
JEL Classification: D63working papers series
Date posted: April 9, 2008
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