Noun
Gini coefficient (plural Gini coefficients)
(statistics, economics) A measure of the inequality of a statistical distribution, ranging from 0 (total equality) to 1 (maximal inequality), used in various disciplines but especially in economics to compare incomes or wealth.
Alternate expressions In some cases, this equation can be applied to calculate the Gini coefficient without direct reference to the Lorenz curve. Source: Internet
A Gini coefficient of 1 (or 100%) expresses maximal inequality among values (e. Source: Internet
A Gini coefficient of zero expresses perfect equality, where all values are the same (for example, where everyone has the same income). Source: Internet
Alternatives to Gini coefficient Given the limitations of Gini coefficient, other statistical methods are used in combination or as an alternative measure of population dispersity. Source: Internet
Basic necessities may be available to all in a developed economy, while in an undeveloped economy with the same Gini coefficient, basic necessities may be unavailable to most or unequally available, due to lower absolute wealth. Source: Internet
An often cited case that 1% of all the world's population owns 50% of all wealth, means a wealth Gini coefficient of at least 49%. Source: Internet