On the measurement of inequality under uncertainty

To take into account both es ante and es post inequality considerations, one has ro deal with inequality and uncertainty simultaneously. Under certainty, much of the literature has focused on ''comonotonically linear'' indices: functionals that are linear on cones or income profiles that agree on the social ranking of the individuals. This family generalizes both the Gini index and the egalitarian index (minimal income). However, it does not include functionals such as the average of expected-Gini and Gini-of-expectation. In contrast, the family of min-of-means functionals is rich enough for this purpose. Journal of Economic Literature Classification Numbers: D31, D63, D81. (C) 1997 Academic Press.