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Frank A Cowell,
Paper No' DARP 029: | Full paper
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Keywords: Inequality; social welfare monotonicity
Is hard copy/paper copy available? NO - Paper Copy Out Of Print.
This Paper is published under the following series: Distributional Analysis Research Programme
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Abstract:We establish a general relationship between the standard form of the individualistic social-welfare function and the ?reduced-form? version that is expressed in terms of inequality and mean income. This shows the relationship between the property of monotonicity and the slope of the equity-efficiency trade-off. Particularly simple results are available for a large class of inequality measures that includes the Gini. These results do not require differentiability of the social welfare function.
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