Transfer principles and relative inequality aversion a majorization approach

Ronny Aboudi; Dominique Thon

doi:10.1016/S0165-4896(03)00003-9

Transfer principles and relative inequality aversion a majorization approach

Ronny Aboudi, Dominique Thon

Management Science

Research output: Contribution to journal › Article › peer-review

5 Scopus citations

Abstract

This paper characterizes two preorders over vectors, representing here income distributions, which, for the case of an order-preserving additive welfare function W=∑₁ⁿ u(x_i), correspond to the increasing concave functions u which are more concave than u(x)=ln x and than u(x)=-1/x, respectively. We provide a characterization of those W functions that is quite distinct from the one recently provided by Fleurbaey and Michel, Mathematical Social Sciences, 2001. The two sets of results are shown to be complementary.

Original language	English (US)
Pages (from-to)	299-311
Number of pages	13
Journal	Mathematical social sciences
Volume	45
Issue number	3
DOIs	https://doi.org/10.1016/S0165-4896(03)00003-9
State	Published - Jul 1 2003

Keywords

Income inequality
Majorization
Risk aversion
Stochastic dominance

ASJC Scopus subject areas

Sociology and Political Science
Social Sciences(all)
Psychology(all)
Statistics, Probability and Uncertainty

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10.1016/S0165-4896(03)00003-9

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AB - This paper characterizes two preorders over vectors, representing here income distributions, which, for the case of an order-preserving additive welfare function W=∑1n u(xi), correspond to the increasing concave functions u which are more concave than u(x)=ln x and than u(x)=-1/x, respectively. We provide a characterization of those W functions that is quite distinct from the one recently provided by Fleurbaey and Michel, Mathematical Social Sciences, 2001. The two sets of results are shown to be complementary.

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