Measuring inequality in society

Paper

Mills, T. M., Lenard, C. T., Chan, K. C. and Williams, Ruth F. G.. 2016. "Measuring inequality in society." Skiadas, Christos H. (ed.) 4th Stochastic Modeling Techniques and Data Analysis International Conference with Demographics Workshop (SMTDA 2016). Valletta, Malta 01 - 04 Jun 2016
Paper/Presentation Title

Measuring inequality in society

Presentation TypePaper
AuthorsMills, T. M. (Author), Lenard, C. T. (Author), Chan, K. C. (Author) and Williams, Ruth F. G. (Author)
EditorsSkiadas, Christos H.
Journal or Proceedings TitleProceedings of the 4th Stochastic Modeling Techniques and Data Analysis International Conference with Demographics Workshop (SMTDA 2016)
Number of Pages14
Year2016
Web Address (URL) of Paperhttp://www.smtda.net/smtda2016.html
Conference/Event4th Stochastic Modeling Techniques and Data Analysis International Conference with Demographics Workshop (SMTDA 2016)
Event Details
4th Stochastic Modeling Techniques and Data Analysis International Conference with Demographics Workshop (SMTDA 2016)
Event Date
01 to end of 04 Jun 2016
Event Location
Valletta, Malta
Abstract

Some inequalities in society seem unfair. Hence, governments around the world develop policies aimed at reducing unwarranted inequalities. There is a need for well-founded measures of inequality to monitor the impact of such policies. Are these policies effective in moving society to be more egalitarian or not? The discipline of economics has developed many such measures over the last century: examples include the Lorenz curve, the measures of Gini, Atkinson and Theil. Although these measures have been focussed on measuring inequality of incomes, they have been adapted to other situations too. In this expository paper, we will present an introduction to measures of economic inequality in society from a mathematical perspective, and highlight policy implications of such measures. This is an area in which mathematics and economics can contribute to justice and fairness in society.

Keywordsinequality, economics, Lorenz, Gini, Atkinson, Theil
ANZSRC Field of Research 2020490199. Applied mathematics not elsewhere classified
380199. Applied economics not elsewhere classified
Public Notes

© Copyright 2016 by ISAST: International Society for the Advancement of Science and Technology.

Byline AffiliationsLa Trobe University
Institution of OriginUniversity of Southern Queensland
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