Review:
Gini Coefficient
overall review score: 4.5
⭐⭐⭐⭐⭐
score is between 0 and 5
The Gini coefficient is a measure of statistical dispersion intended to represent the income distribution of a nation's residents.
Key Features
- Measures income inequality within a population
- Ranges from 0 (perfect equality) to 1 (perfect inequality)
- Commonly used in economics and sociology
Pros
- Provides a quantitative measure of income inequality
- Helps policymakers and analysts understand economic disparities
- Easy to interpret and compare across different countries
Cons
- Does not account for non-monetary forms of inequality
- Can be influenced by outliers in income data
- Does not provide information on the causes of inequality