prospect: Inequality index based on prospect theory

In mjantti/incdist: A collection of functions for income distribution analysis

Inequality index based on prospect theory

Description

This function prospect-theory-based estimates of Atkinson's inequality index for some reference value.

Usage

prospect(x, w = rep(1, length(x)), eta = 1, data = NULL, na.rm = TRUE)

Arguments

x	a numerical vector whose index is to be estimated, consisting of income less some reference value
w	an optional vector of non-negative integer values weights.
eta	the inequality aversion parameter. Larger value indicate higher aversion, zero inequality neutrality and negative values inequality preference.
data	the data frame where the variables are found.
na.rm	a logical indicating whether NA's should removed.

Details

None.

Value

The inequality index.

Author(s)

Markus Jantti [e-mail]

References

\insertRef

janttikanburnyyssolaandpirttila2014incdist

See Also

gini ge atkinson

Examples

prospect(runif(100), eta = 1/2)

mjantti/incdist documentation built on Aug. 23, 2023, 5:33 p.m.