B2. Consider the ten-person income distributions of three countries A, B and C summarised in the table below. Distribution 1 2 A B C 3 4 5 6 10 £150 £500 7 8 9 £100 £250 £200 £300 £550 £400 £450 £350 £310 £350 £510 £150 £390 £190 £270 £470 £230 £430 £425 £535 £205 £480 £150 £370 £645 £590 £315 £260 Analyse and compare the three income distributions in terms of (1) first order stochastic dominance, (2) Generalised Lorenz dominance, (3) relative Lorenz dominance and (4) absolute Lorenz dominance. Show your calculations and graphs. Explain your findings in detail.
B2. Consider the ten-person income distributions of three countries A, B and C summarised in the table below. Distribution 1 2 A B C 3 4 5 6 10 £150 £500 7 8 9 £100 £250 £200 £300 £550 £400 £450 £350 £310 £350 £510 £150 £390 £190 £270 £470 £230 £430 £425 £535 £205 £480 £150 £370 £645 £590 £315 £260 Analyse and compare the three income distributions in terms of (1) first order stochastic dominance, (2) Generalised Lorenz dominance, (3) relative Lorenz dominance and (4) absolute Lorenz dominance. Show your calculations and graphs. Explain your findings in detail.
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter1: Functions
Section1.EA: Extended Application Using Extrapolation To Predict Life Expectancy
Problem 7EA
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Transcribed Image Text:Economics
B2. Consider the ten-person income distributions of three countries A, B and C
summarised in the table below.
Distribution
A
1
£100 £250 £200 £300 £150 £500 £550 £400 £450 £350
£310 £350 £510 £150 £390 £190 £270 £47O £230 £430
£425 £535 £205 £480 £150 £370 £645 £590 £315 £260
2
3
4
5
7
8
10
Analyse and compare the three income distributions in terms of (1) first order
stochastic dominance, (2) Generalised Lorenz dominance, (3) relative Lorenz
dominance and (4) absolute Lorenz dominance. Show your calculations and graphs.
Explain your findings in detail.
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