Measurements of this quantity are governed by the Pigou-Dalton principle, and are also subjectto scale independence, population independence, and anonymity. This quantity is modeled as a kindof entropy in the Atkinson and Theil indices. The proportion of money that must be targeted in orderto reduce this quantity to zero is known as the Hoover inde
Measurements of this quantity are governed by the Pigou-Dalton principle, and are also subjectto scale independence, population independence, and anonymity. This quantity is modeled as a kindof entropy in the Atkinson and Theil indices. The proportion of money that must be targeted in orderto reduce this quantity to zero is known as the Hoover index. The most common measure of thisquantity is the ratio of (*) two areas seen on a Lorenz curve diagram, and is the Gini coefficient. For 10points, identify this quantity that is calculated for economies based on what proportion of the populationcontrols what proportion of wealth.
Measurements of this quantity are governed by the Pigou-Dalton principle, and are also subjectto scale independence, population independence, and anonymity.
economic inequality [or income inequality; or wealth inequality; since all measures of inequality are also inverse measures of equality, accept that in all cases]