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Distorted Lorenz curves: models and comparisons
The economic literature contains many parametric models for the Lorenz curve. A number of these models can be obtained by distorting an original Lorenz curve L by a function h, giving rise to a distorted Lorenz curve L̃ = h o L. In this paper, we study, in a unified framework, this family of curves....
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Published in: | Social choice and welfare 2014-04, Vol.42 (4), p.761-780 |
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creator | Sordo, Miguel A. Navarro, Jorge Sarabia, José María |
description | The economic literature contains many parametric models for the Lorenz curve. A number of these models can be obtained by distorting an original Lorenz curve L by a function h, giving rise to a distorted Lorenz curve L̃ = h o L. In this paper, we study, in a unified framework, this family of curves. First, we explore the role of these curves in the context of the axiomatic structure of Aaberge (2001) for orderings on the set of Lorenz curves. Then, we describe some particular models and investigate how changes in the parameters in the baseline Lorenz curve L affect the transformed curve L̃ . Our results are stated in terms of preservation of some stochastic orders between two Lorenz curves when both are distorted by a common function. |
doi_str_mv | 10.1007/s00355-013-0754-y |
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A number of these models can be obtained by distorting an original Lorenz curve L by a function h, giving rise to a distorted Lorenz curve L̃ = h o L. In this paper, we study, in a unified framework, this family of curves. First, we explore the role of these curves in the context of the axiomatic structure of Aaberge (2001) for orderings on the set of Lorenz curves. Then, we describe some particular models and investigate how changes in the parameters in the baseline Lorenz curve L affect the transformed curve L̃ . 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subjects | Analysis Axioms Distribution functions Economic Models Economic theory Economic Theory/Quantitative Economics/Mathematical Methods Economics Economics and Finance Expected utility Game Theory Gini index Income distribution Income inequality Inequality International Political Economy Lorenz Curve Lorenz curves Original Paper Parametric models Perceptual distortion Poverty Preferences Preservation Probability theory Public choice Public Finance Random variables Social and Behav. Sciences Social conditions & trends Social Policy Social welfare Stochastic models Stochastic processes Studies Utility functions |
title | Distorted Lorenz curves: models and comparisons |
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