In this paper we study income polarization by first comparing the efficiency of two statistical models to identify the number of poles in the income distribution empirically. The statistical models used are a multi-resolution analysis (MRA) and a log-normal approach (LNA). We then apply the...

Purpose: The purpose of this paper is to assess the change in the Italian and Spanish wage polarization degree in a time of economic crisis, taking into account the factors affecting labor force heterogeneity. Gender differences in the evolution of social fractures are considered by carrying...

Purpose – The current economic crisis has significantly increased unemployment, showing higher persistence than expected. However, since microdata from household surveys are issued with delay, they do not allow a prompt analysis of the impact of the economic cycle on households’ living...

In this paper, it is demonstrated that coefficient of determination of an ANOVA linear model provides a measure of polarization. Taking as the starting point the link between polarization and dispersion, we reformulate the measure of polarization of Zhang and Kanbur using the decomposition of...

We study preferences over lotteries in which both the prize and the payment date are uncertain. In particular, atime lotteryis one in which the prize is fixed but the date is random. With Expected Discounted Utility, individuals must be riskseekingover time lotteries (RSTL). In an incentivized...

This paper shows that the informativeness principle, as originally formulated by Holmstrom (1979), does not hold if the first-order approach is invalid. We introduce a "generalized informativeness principle" that takes into account non-local incentive constraints and holds generically, even...

This paper shows that the informativeness principle, as originally formulated by Holmstrom (1979), does not hold if the first-order approach is invalid. We introduce a "generalized informativeness principle" that takes into account non-local incentive constraints and holds generically, even...