|
Hoover Index
The Hoover index, also known as the Robin Hood index or the Schutz index, is a measure of income inequality. It is equal to the percentage of the total population's income that would have to be redistribution of income and wealth, redistributed to make all the incomes equal. i.e. The Hoover is the total amount (as a percentage of the national-income) by which people have less than their equal income-share. The Hoover Index can be calculated by the following subtraction: The percentage of the people getting less than their equal-share (i.e. less than the national mean income), minus their percentage of the national income. It can be graphically represented as the longest vertical distance between the Lorenz curve (which graphs cumulative income vs cumulative population (income-ordered population-percentile)and the 45 degree line representing perfect equality). It would be informative to express the Hoover in terms of its average cost to individuals who get less than their equal- ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Atkinson Index
The Atkinson index (also known as the Atkinson measure or Atkinson inequality measure) is a measure of income inequality developed by British economist Anthony Barnes Atkinson. The measure is useful in determining which end of the distribution contributed most to the observed inequality. Definition The Atkinson index is defined as: :A_\varepsilon(y_1,\ldots,y_N)= \begin 1-\frac\left(\frac\sum_^y_^\right)^ & \mbox\ 0 \leq \varepsilon \neq 1 \\ 1-\frac\left(\prod_^y_\right)^ & \mbox\ \varepsilon=1 \\ 1-\frac\min \left(y_1,...,y_N\right) & \mbox\ \varepsilon=+\infty \end where y_ is individual income (''i'' = 1, 2, ..., ''N'') and \mu is the mean income. In other words, the Atkinson index is the complement to 1 of the ratio of the Hölder generalized mean of exponent 1−ε to the arithmetic mean of the incomes (where as usual the generalized mean of exponent 0 is interpreted as the geometric mean). Interpretation The index can be turned into a normative measure by imposing a c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Python (programming Language)
Python is a high-level programming language, high-level, general-purpose programming language. Its design philosophy emphasizes code readability with the use of significant indentation. Python is type system#DYNAMIC, dynamically type-checked and garbage collection (computer science), garbage-collected. It supports multiple programming paradigms, including structured programming, structured (particularly procedural programming, procedural), object-oriented and functional programming. It is often described as a "batteries included" language due to its comprehensive standard library. Guido van Rossum began working on Python in the late 1980s as a successor to the ABC (programming language), ABC programming language, and he first released it in 1991 as Python 0.9.0. Python 2.0 was released in 2000. Python 3.0, released in 2008, was a major revision not completely backward-compatible with earlier versions. Python 2.7.18, released in 2020, was the last release of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scientific American
''Scientific American'', informally abbreviated ''SciAm'' or sometimes ''SA'', is an American popular science magazine. Many scientists, including Albert Einstein and Nikola Tesla, have contributed articles to it, with more than 150 Nobel Prize-winners being featured since its inception. In print since 1845, it is the oldest continuously published magazine in the United States. ''Scientific American'' is owned by Springer Nature, which is a subsidiary of Holtzbrinck Publishing Group. History ''Scientific American'' was founded by inventor and publisher Rufus Porter (painter), Rufus Porter in 1845 as a four-page weekly newspaper. The first issue of the large-format New York City newspaper was released on August 28, 1845. Throughout its early years, much emphasis was placed on reports of what was going on at the United States Patent and Trademark Office, U.S. Patent Office. It also reported on a broad range of inventions including perpetual motion machines, an 1860 devi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert Sapolsky
Robert Morris Sapolsky (born April 6, 1957) is an American academic, neuroscientist, and primatologist. He is the John A. and Cynthia Fry Gunn Professor at Stanford University, and is a professor of biology, neurology, and neurosurgery. His research has focused on neuroendocrinology, particularly relating to stress. He is also a research associate with the National Museums of Kenya. Early life and education Sapolsky was born in Brooklyn, New York, to immigrants from the Soviet Union. His father, Thomas Sapolsky, was an architect who renovated the restaurants Lüchow's and Lundy's. Robert was raised an Orthodox Jew. He spent his time reading about and imagining living with silverback gorillas. By age twelve, he was writing fan letters to primatologists. He attended John Dewey High School and by that time was reading textbooks on the subject and teaching himself Swahili. Sapolsky is an atheist. He said in his acceptance speech for the Emperor Has No Clothes Award, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Suits Index
The Suits index of a public policy is a measure of tax progressiveness, named for economist Daniel B. Suits. Similar to the Gini coefficient, the Suits index is calculated by comparing the area under the Lorenz curve to the area under a proportional line. For a progressive tax (for example, where higher income tax units pay a greater fraction of their income as tax), the Suits index is positive. A proportional tax (for example, where each unit pays an equal fraction of income) has a Suits index of zero, and a regressive tax (for example, where lower income tax units pay a greater fraction of income in tax) has a negative Suits index. A theoretical tax where the richest person pays all the tax has a Suits index of 1, and a tax where the poorest person pays everything has a Suits index of −1. Tax preferences (credits and deductions) also have a Suits index. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Inequality Metrics
Income inequality metrics or income distribution metrics are used by social scientists to measure the distribution of wealth, distribution of income and economic inequality among the participants in a particular economy, such as that of a specific country or of the world in general. While different theories may try to explain how income inequality comes about, income inequality descriptive statistic, metrics simply provide a Systems of measurement, system of measurement used to determine the dispersion of incomes. The concept of inequality is distinct from poverty and distributive justice, fairness. Income distribution has always been a central concern of economic theory and economic policy. Classical economists such as Adam Smith, Thomas Malthus and David Ricardo were mainly concerned with factor income distribution, that is, the distribution (economics), distribution of income between the main factors of production, land, labour and capital. It is often related to wealth distribut ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Generalized Entropy Index
The generalized entropy index has been proposed as a measure of income inequality in a population. It is derived from information theory as a measure of redundancy in data. In information theory a measure of redundancy can be interpreted as non-randomness or data compression; thus this interpretation also applies to this index. In addition, interpretation of biodiversity as entropy has also been proposed leading to uses of generalized entropy to quantify biodiversity. Formula The formula for general entropy for real values of \alpha is: GE(\alpha) = \begin \frac\sum_^N\left left(\frac\right)^\alpha - 1\right& \alpha \ne 0, 1,\\ \frac\sum_^N\frac\ln\frac,& \alpha=1,\\ -\frac\sum_^N\ln\frac,& \alpha=0. \end where N is the number of cases (e.g., households or families), y_i is the income for case i and \alpha is a parameter which regulates the weight given to distances between incomes at different parts of the income distribution. For large \alpha the index is especially sensit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Inequality Metrics
Income inequality metrics or income distribution metrics are used by social scientists to measure the distribution of wealth, distribution of income and economic inequality among the participants in a particular economy, such as that of a specific country or of the world in general. While different theories may try to explain how income inequality comes about, income inequality descriptive statistic, metrics simply provide a Systems of measurement, system of measurement used to determine the dispersion of incomes. The concept of inequality is distinct from poverty and distributive justice, fairness. Income distribution has always been a central concern of economic theory and economic policy. Classical economists such as Adam Smith, Thomas Malthus and David Ricardo were mainly concerned with factor income distribution, that is, the distribution (economics), distribution of income between the main factors of production, land, labour and capital. It is often related to wealth distribut ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Inequality
In economics, income distribution covers how a country's total GDP is distributed amongst its population. Economic theory and economic policy have long seen income and its distribution as a central concern. Unequal distribution of income causes economic inequality which is a concern in almost all countries around the world. About Classical economists such as Adam Smith (1723–1790), Thomas Malthus (1766–1834), and David Ricardo (1772–1823) concentrated their attention on factor income-distribution, that is, the distribution of income between the primary factors of production (land, labour and capital). Modern economists have also addressed issues of income distribution, but have focused more on the distribution of income across individuals and households. Important theoretical and policy concerns include the balance between income inequality and economic growth, and their often inverse relationship. The Lorenz curve can represent the distribution of income within ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Theil Index
The Theil index is a statistic primarily used to measure economic inequality and other economic phenomena, though it has also been used to measure racial segregation. The Theil index ''T''T is the same as redundancy in information theory which is the maximum possible entropy of the data minus the observed entropy. It is a special case of the generalized entropy index. It can be viewed as a measure of redundancy, lack of diversity, isolation, segregation, inequality, non-randomness, and compressibility. It was proposed by a Dutch econometrician Henri Theil (1924–2000) at the Erasmus University Rotterdam. Henri Theil himself said (1967): "The (Theil) index can be interpreted as the expected information content of the indirect message which transforms the population shares as prior probabilities into the income shares as posterior probabilities." Amartya Sen noted, "But the fact remains that the Theil index is an arbitrary formula, and the average of the logarithms of the recip ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
