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Characterizations of inequality orderings by means of dispersive orderings.

Héctor M. Ramos Romero;  Miguel Angel Sordo Díaz — 2002

Qüestiió

The generalized Lorenz order and the absolute Lorenz order are used in economics to compare income distributions in terms of social welfare. In Section 2, we show that these orders are equivalent to two stochastic orders, the concave order and the dilation order, which are used to compare the dispersion of probability distributions. In Section 3, a sufficient condition for the absolute Lorenz order, which is often easy to verify in practice, is presented. This condition is applied in Section 4 to...

The proportional likelihood ratio order and applications.

Héctor M. Ramos Romero;  Miguel Angel Sordo Díaz — 2001

Qüestiió

In this paper, we introduce a new stochastic order between continuous non-negative random variables called the PLR (proportional likelihood ratio) order, which is closely related to the usual likelihood ratio order. The PLR order can be used to characterize random variables whose logarithms have log-concave (log-convex) densities. Many income random variables satisfy this property and they are said to have the IPLR (increasing proportional likelihood ratio) property (DPLR property). As an application,...

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