The ?-Statistics Approach to Income Distribution Analysis
Book Details
Format
Paperback / Softback
Book Series
Elements in Econophysics
ISBN-10
1009446355
ISBN-13
9781009446358
Publisher
Cambridge University Press
Imprint
Cambridge University Press
Country of Manufacture
GB
Country of Publication
GB
Publication Date
May 8th, 2025
Print length
70 Pages
Weight
116 grams
Dimensions
15.10 x 22.90 x 0.50 cms
Product Classification:
Physics
Ksh 3,050.00
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This Element presents the ?-generalized distribution, a statistical model tailored for the analysis of income distribution. Developed over years of collaborative, multidisciplinary research, it clarifies the statistical properties of the model, assesses its empirical validity and compares its effectiveness with other parametric models.
This Element presents the ?-generalized distribution, a statistical model tailored for the analysis of income distribution. Developed over years of collaborative, multidisciplinary research, it clarifies the statistical properties of the model, assesses its empirical validity and compares its effectiveness with other parametric models. It also presents formulas for calculating inequality indices within the ?-generalized framework, including the widely used Gini coefficient and the relatively lesser-known Zanardi index of Lorenz curve asymmetry. Through empirical illustrations, the Element criticizes the conventional application of the Gini index, pointing out its inadequacy in capturing the full spectrum of inequality characteristics. Instead, it advocates the adoption of the Zanardi index, accentuating its ability to capture the inherent heterogeneity and asymmetry in income distributions.
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