Lorenz Curve and Gini Index in Excel
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- เผยแพร่เมื่อ 28 มิ.ย. 2021
- What is Lorenz Curve?
In economics, the Lorenz curve is a graphical representation of the distribution of income or of wealth. It was developed by Max O. Lorenz in 1905 for representing the inequality of wealth distribution.
The curve is a graph showing the proportion of overall income or wealth assumed by the bottom x% of the people, although this is not rigorously true for a finite population (see below). It is often used to represent income distribution, showing the bottom x% of households and the percentage (y%) of the total income they have. The percentage of households is plotted on the x-axis, the percentage of income on the y-axis. It can also be used to show the distribution of assets. In such use, many economists consider it to be a measure of social inequality.
What is the Gini Coefficient?
Gini Coefficient, also known as the Gini index, is the statistical measure used to measure the distribution of the income among the country's population, i.e., it helps measure the income inequality of the country’s population. t is a value between 0 and 1. A higher number indicates a greater degree of income inequality. A value of 1 indicates the highest degree of income inequality where a single individual earns the country's entire income. A value of 0 indicates that all individuals have the same income. Thus, a value of 0 indicates perfect income equality. One of the limitations of the Gini index is that its use requires that no one has negative net wealth.
For further study:
Gastwirth, J. L. (1972). The estimation of the Lorenz curve and Gini index. The review of economics and statistics, 306-316. doi.org/10.2307/1937992
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Thank you so much for explaining in a simple way and with example ❤
A lot of thanks for this clarification
Thank you so much sir, you have saved my life.
Thank you for your comment
Thank you!!!
If you can please tell me what formula you used while calculating parallelogram area under the curve?
Reminder:
the link of the paper is not seen here
Ok,. I will update it.
Check it now
@@DrJayantaDas Thanks Brother
Thanks for this useful resource, but one thing is recommended to make this video more useful is, please also show and explain the formula which you have used while calculating the Gini index in excel. You are just saying click here and there, but not explaining why to click here and there.
Thank you for your comment. Did you watch the tutorial ? I recommend one article, you should read first before doing this.
@@DrJayantaDas ok. Thanks.