The Extended Gini Family of Measures
The GMD has many alternative presentations. Some of these alternative presentations can be extended into families of variability measures and the GMD can be viewed as one member of such a family. The fact that there are several alternative presentations implies that one can present the GMD and the Gini coefficient as belonging to several alternative families. These families differ in the properties they have. We do not intend to survey the properties of all possible families. We choose to concentrate on one family that is useful in several fields of applications. We will refer to it as the extended Gini family. However, the reader should keep in mind that for different fields of applications one may want to have alternative extensions.
KeywordsIncome Distribution Marginal Utility Gini Coefficient Concave Function Stochastic Dominance
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