Corrigendum to “Relation Between a Social Welfare Function and the Gini Index of Income Inequality” Journal of Economic Theory 4 (1972): 98-100

A-Tier
Journal: Journal of Economic Theory
Year: 2022
Volume: 206
Issue: C

Score contribution per author:

4.022 = (α=2.01 / 1 authors) × 2.0x A-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Fifty years ago Eytan Sheshinski constructed a composite measure of social welfare in which income per capita enters positively, and income inequality enters negatively: social welfare was defined as a strictly increasing function of the product of income per capita and one minus the Gini coefficient. In the case of a population of two persons whose incomes are distinct, Sheshinski states that social welfare depends only on the lower income, which reduces the social welfare function to the Rawlsian social welfare function. We show that this is not true: social welfare depends on both incomes, and there is no congruence with the Rawlsian perspective.

Technical Details

RePEc Handle
repec:eee:jetheo:v:206:y:2022:i:c:s0022053122001338
Journal Field
Theory
Author Count
1
Added to Database
2026-01-29