Quantile Versions of the Lorenz Curve (1510.06085v1)

Abstract: The classical Lorenz curve is often used to depict inequality in a population of incomes, and the associated Gini coefficient is relied upon to make comparisons between different countries and other groups. The sample estimates of these moment-based concepts are sensitive to outliers and so we investigate the extent to which quantile-based definitions can capture income inequality and lead to more robust procedures. Distribution-free estimates of the corresponding coefficients of inequality are obtained, as well as sample sizes required to estimate them to a given accuracy. Convexity, transference and robustness of the measures are examined and illustrated.