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When is a Fixed Income Distribution Optimal?

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Arrow and the Foundations of the Theory of Economic Policy

Abstract

In making international comparisons among countries, or in assessing the progress of a country over time, it is customary in applied research to act as though the relevant information could be summarized by a ‘sufficient statistic’, namely the country’s income distribution. From this one obtains the mean (per capita) income and the curve of concentration, or ‘Lorenz curve’, making possible comparisons of different economies with the same per capita income.1

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Authors
  1. John S. Chipman
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Editor information

Editors and Affiliations

  1. University of Tennessee, USA

    George R. Feiwel (Alumni Distinguished Service Professor and Professor of Economics) (Alumni Distinguished Service Professor and Professor of Economics)

Copyright information

© 1987 George R. Feiwel

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Chipman, J.S. (1987). When is a Fixed Income Distribution Optimal?. In: Feiwel, G.R. (eds) Arrow and the Foundations of the Theory of Economic Policy. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-07357-3_14

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