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English: Gini coefficient diagram, based on the version by Bluemoose/BenFrantzDale. You can think of the horizontal axis as percent of people and the vertical axis as the percent of income those people receive.
The Italian statistician Corrado Gini developed the Gini coefficient and published it in his 1912 paper Variabilità e mutabilità (English: variability and mutability). [16] [17] Building on the work of American economist Max Lorenz, Gini proposed using the difference between the hypothetical straight line depicting perfect equality and the actual line depicting people's incomes as a measure ...
Gini coefficient diagram. You can think of the horizontal axis as percent of people and the vertical axis as the percent of income those people receive. Therefore the curves always start and end at the same places, where 0% of people make 0% of the country's income and 100% of people making 100% of the total income.
A complete handout about the Lorenz curve including various applications, including an Excel spreadsheet graphing Lorenz curves and calculating Gini coefficients as well as coefficients of variation. LORENZ 3.0 is a Mathematica notebook which draw sample Lorenz curves and calculates Gini coefficients and Lorenz asymmetry coefficients from data ...
This is a list of countries and territories by income inequality metrics, as calculated by the World Bank, UNU-WIDER, OCDE, and World Inequality Database, based on different indicators, like the Gini coefficient and specific income ratios.
It is defined as a ratio with values between 0 and 1: A low Gini coefficient indicates more equal income or wealth distribution, while a high Gini coefficient indicates more unequal distribution. 0 corresponds to perfect equality (everyone having exactly the same income) and 1 corresponds to perfect inequality (where one person has all the ...
English: When the richest u % of the population (red) equally share f % of all income or wealth, and the others (green) equally share the remainder, the Gini coefficient is f − u. A smooth distribution (blue) with the same characteristics will always have a larger Gini coefficient.
Coefficient of variation (CV) used as a measure of income inequality is conducted by dividing the standard deviation of the income (square root of the variance of the incomes) by the mean of income. Coefficient of variation will be therefore lower in countries with smaller standard deviations implying more equal income distribution.