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Inequality, welfare and monotonicity

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We stablish a general relationship between the standard form of the individualistic social-welfare function and the "reduced-form" version that is expressed in terms of inequality and mean income. This shows the relationship between the property of monotonicity and the slope of the equity-efficient trade-off. Particularly simple results are available for a large class of inequality measures that includes the Gini. These results do not require differentiability of the social-welfare function.

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en

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application/pdf

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http://eprints.lse.ac.uk/2222/1/Inequality%2C_Welfare_and_Monotonicity.pdf

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