Gini Coefficient

Nick Name
Gini ratio
Abbreviation
GINI
Parent term
The Gini Coefficient measures statistical dispersion and is commonly used to measure income and wealth inequality

  • Helps one understand the skew of a distribution
  • Can be used to measure inequality (from a mathematical/statistics perspective)
    • Does not measure from a values/societal perspective
    • Found to be better than using averages
  • Values fall between 0.00 and 1.00
    • The closer to 0.00, the more equal the data sample is
    • The closer to 1.00, the more unequal the data sample is
  • Names after Corrado Gini
  • Also known as Gini Index
  • Commonly used to measure Income & Wealth Inequality