ECO 2020 INCLUSIVE ACCESS
21st Edition
ISBN: 9781260564617
Author: McConnell
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Chapter 23, Problem 1RQ
To determine
Relation between the Gini ratio and the distribution of income.
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and u (C1, C2)
=
1/2
=
f) Derive analytically and show graphically the solution under other util-
ity functions such as u (C1, C2) ac₁+bc2 where a, b > 0, u (C1, C2) = ac₁+bc1/2
acbc2 (assume that the agent is sufficiently rich to
avoid the corner solution). What of these utility functions reflects best your
own preferences (or indicate other utility function that represent your pref-
erences).
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