Journal
ENTROPY
Volume 21, Issue 5, Pages -Publisher
MDPI
DOI: 10.3390/e21050488
Keywords
projection of share function; logit function; maximum entropy method; inequality measure; 62E17; 62P20; 91B15
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Funding
- National Research Foundation of Korea [NRF-2017S1A3A2066657]
- National Research Foundation of Korea [2017S1A3A2066657] Funding Source: Korea Institute of Science & Technology Information (KISTI), National Science & Technology Information Service (NTIS)
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The Gini coefficient is generally used to measure and summarize inequality over the entire income distribution function (IDF). Unfortunately, it is widely held that the Gini does not detect changes in the tails of the IDF particularly well. This paper introduces a new inequality measure that summarizes inequality well over the middle of the IDF and the tails simultaneously. We adopt an unconventional approach to measure inequality, as will be explained below, that better captures the level of inequality across the entire empirical distribution function, including in the extreme values at the tails.
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