A social-psychological reconstruction of Amartya Sen's measures of inequality and social welfare

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dc.contributor.author Stark, Oded
dc.contributor.author Budzinski, Wiktor
dc.date.accessioned 2021-09-21T14:01:02Z
dc.date.available 2021-09-21T14:01:02Z
dc.date.issued 2021-09-16
dc.identifier.other 1771628987 de_DE
dc.identifier.uri http://hdl.handle.net/10900/119104
dc.identifier.uri http://nbn-resolving.de/urn:nbn:de:bsz:21-dspace-1191048 de_DE
dc.identifier.uri http://dx.doi.org/10.15496/publikation-60478
dc.description.abstract The Gini coefficient features prominently in Amartya Sen’s 1973 and 1997 seminal work on income inequality and social welfare. We construct the Gini coefficient from social-psychological building blocks, reformulating it as a ratio between a measure of social stress and aggregate income. We determine when as a consequence of an income gain by an individual, an increase in the social stress measure dominates a concurrent increase in the aggregate income, such that the magnitude of the Gini coefficient increases. By integrating our approach to the construction of the Gini coefficient with Sen’s social welfare function, we are able to endow the function with a social-psychological underpinning, showing that this function, too, is a composite of a measure of social stress and aggregate income. We reveal a dual role played by aggregate income as a booster of social welfare in Sen’s social welfare function. Quite surprisingly, we find that a marginal increase of income for any individual, regardless of the position of the individual in the hierarchy of incomes, improves welfare as measured by Sen’s social welfare function. en
dc.language.iso en de_DE
dc.publisher Universität Tübingen de_DE
dc.rights ubt-podno de_DE
dc.rights.uri http://tobias-lib.uni-tuebingen.de/doku/lic_ohne_pod.php?la=de de_DE
dc.rights.uri http://tobias-lib.uni-tuebingen.de/doku/lic_ohne_pod.php?la=en en
dc.subject.classification Economics de_DE
dc.subject.ddc 330 de_DE
dc.subject.other Measuring inequality en
dc.subject.other A social-psychological approach to the construction of the Gini coefficient en
dc.subject.other Properties of the reconstructed Gini coefficient en
dc.subject.other Sen’s social welfare function en
dc.subject.other Sen’s social welfare function as a composite of a measure of social stress and aggregate income en
dc.title A social-psychological reconstruction of Amartya Sen's measures of inequality and social welfare en
dc.type Article de_DE
utue.publikation.fachbereich Wirtschaftswissenschaften de_DE
utue.publikation.fakultaet 6 Wirtschafts- und Sozialwissenschaftliche Fakultät de_DE
dcterms.DCMIType Text de_DE
utue.opus.portal utwpbusinesseco de_DE
utue.publikation.source University of Tübingen Working Papers in Business and Economics ; No. 151 de_DE
utue.publikation.reihenname University of Tübingen Working Papers in Business and Economics de_DE

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