Socio-economic inequality: Relationship between Gini and Kolkata indices

Abstract

Socio-economic inequality is characterized from data using various indices. The Gini ($g$) index, giving the overall inequality is the most common one, while the recently introduced Kolkata ($k$) index gives a measure of $1-k$ fraction of population who possess top $k$ fraction of wealth in the society. Here, we show the relationship between the two indices, using both empirical data and analytical estimates. The significance of their relationship has been discussed.

7 pages, 4 figures + 7 pages appendix with 10 data tables, 1 figure; accepted in Physica A

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• Near universal values of social inequality indices in self-organized critical models
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• Evolutionary Dynamics of Social Inequality and Coincidence of Gini and Kolkata indices under Unrestricted Competition
• Sandpile Universality in Social Inequality: Gini and Kolkata Measures
• Limiting Value of the Kolkata Index for Social Inequality and a Possible Social Constant
• Variation of Gini and Kolkata Indices with Saving Propensity in the Kinetic Exchange Model of Wealth Distribution: An Analytical Study
• Success of Social Inequality Measures in Predicting Critical or Failure Points in Some Models of Physical Systems
• Development of Econophysics: A biased account and perspective from Kolkata
• Inequality in Death from Social Conflicts: A Gini & Kolkata indices-based Study
• A simple and efficient kinetic model for wealth distribution with saving propensity effect: based on lattice gas automaton
• Gintropic Scaling of Scientometric Indexes
• Measuring multidimensional heterogeneity in emergent social phenomena
• Global Income Inequality and Savings: A Data Science Perspective
• Relations Among Different Inequality Measures in Complex Systems: From Kinetic Exchange to Earthquake Models
• Econophysics Through Computation