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Line of perfect. equality Wealth

Line of perfect. equality Wealth

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Lp(x) = x^p for p less than or equal to 1
Line of perfect equality 0.8 of households control 0.6 of 0.6 the wealth. Lorenz curve 0.5 of households control 0.2 of 0.2 B the wealth. 0. 0.5 0.8 Fraction of Households Figure 1 Fraction of Total Wealth
Transcribed Image Text:Line of perfect equality 0.8 of households control 0.6 of 0.6 the wealth. Lorenz curve 0.5 of households control 0.2 of 0.2 B the wealth. 0. 0.5 0.8 Fraction of Households Figure 1 Fraction of Total Wealth
7. The information in the Lorenz curve is often summarized in a single measure called the Gini index (proposed in a 1912 paper by the Italian statistician Corrado Gini). The Gini index is defined as follows. Let A be the area of the region between y = x and y = L(x) and let B be the area of the region between y = L(x) and the x-axis (see Figure 1). Then the Gini index A is G = A+B Compute the Gini index for L, when p = 1.1 and when p = 4.
Transcribed Image Text:7. The information in the Lorenz curve is often summarized in a single measure called the Gini index (proposed in a 1912 paper by the Italian statistician Corrado Gini). The Gini index is defined as follows. Let A be the area of the region between y = x and y = L(x) and let B be the area of the region between y = L(x) and the x-axis (see Figure 1). Then the Gini index A is G = A+B Compute the Gini index for L, when p = 1.1 and when p = 4.
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