According to Chateauneuf (1996), we compare some inequality criteria. We investigate their properties and characteristics. Then, following the approach that links different levels of deprivation with alternative values of social welfare, we look for a functional that evaluates the well-being of individuals with respect to their relative position in the distribution. After having criticized the approach to evaluate the social welfare using the expected utility theory or the rank dependent one respectively under a descriptive and normative point of view, we introduce an additive subjective utility functional in order to search the behavioral foundations of an equity concerned decision-maker.
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Paper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number
2002007.
Find related papers by JEL classification: D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement I31 - Health, Education, and Welfare - - Welfare and Poverty - - - General Welfare