Search results
Results from the WOW.Com Content Network
The Theil index is a statistic primarily used to measure economic inequality [1] and other economic phenomena, though it has also been used to measure racial segregation. [ 2 ] [ 3 ] The Theil index T T is the same as redundancy in information theory which is the maximum possible entropy of the data minus the observed entropy.
In statistics, the uncertainty coefficient, also called proficiency, entropy coefficient or Theil's U, is a measure of nominal association. It was first introduced by Henri Theil [ citation needed ] and is based on the concept of information entropy .
For the Theil index also the term "Theil entropy" had been used. This caused confusion. As an example, Amartya Sen commented on the Theil index, "given the association of doom with entropy in the context of thermodynamics, it may take a little time to get used to entropy as a good thing."
Free Calculator: Online and downloadable scripts (Python and Lua) for Atkinson, Gini, and Hoover inequalities; Users of the R data analysis software can install the "ineq" package which allows for computation of a variety of inequality indices including Gini, Atkinson, Theil.
The generalized entropy index has been proposed as a measure of income inequality in a population. [1] It is derived from information theory as a measure of redundancy in data. In information theory a measure of redundancy can be interpreted as non-randomness or data compression ; thus this interpretation also applies to this index.
The price index for some period is usually normalized to be 1 or 100, and that period is called "base period." A Törnqvist or Törnqvist-Theil price index is the weighted geometric mean of the price relatives using arithmetic averages of the value shares in the two periods as weights. [1]
As defined by Theil (1950), the Theil–Sen estimator of a set of two-dimensional points (x i, y i) is the median m of the slopes (y j − y i)/(x j − x i) determined by all pairs of sample points. Sen (1968) extended this definition to handle the case in which two data points have the same x coordinate.
In statistics and research design, an index is a composite statistic – a measure of changes in a representative group of individual data points, or in other words, a compound measure that aggregates multiple indicators. [1] [2] Indices – also known as indexes and composite indicators – summarize and rank specific observations. [2]