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Households, Goods, And Well‐Being

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  • Stein Ringen

Abstract

Household economies translate goods into well‐being through production, co‐operation, and distribution. Between market goods to households and well‐being to persons, value is added. Income is a measure of goods, consumption well‐being is measured by equivalent income. An absolute interpretation of equivalent income is argued as the value to persons of consumption well‐being after household economies. Guidance is suggested on the choice of equivalence scales, and for the measurement of well‐being and inequality.

Suggested Citation

  • Stein Ringen, 1996. "Households, Goods, And Well‐Being," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 42(4), pages 421-431, December.
    • Handle: RePEc:bla:revinw:v:42:y:1996:i:4:p:421-431
    DOI: 10.1111/j.1475-4991.1996.tb00192.x
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    Cited by:

    1. Tania Burchardt & Asghar Zaidi, 2003. "Comparing incomes when needs differ: Equivalisation for the extra costs of disability in the UK," CASE Papers 064, Centre for Analysis of Social Exclusion, LSE.

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