A New Measure of the Standard of Living Based on Functionings

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A New Measure of the Standard of Living Based on Functionings

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Wulf Gaertner ()
Yongsheng Xu ()

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Abstract

Human development is about expanding the choices human beings have to lead lives that they value and is captured by its capability sets which consist of various functioning vectors. The standard of living is then reflected in capability sets. This paper proposes some particular ways of measuring the standard of living available either to an individual or a whole country, when the direction of the development of society represented by a reference functioning vector or a reference cone is uncertain. We provide axiomatic characterizations of the various measures proposed.

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Publisher Info
Paper provided by cege – Center for European, Governance and Economic Development Research, University of Goettingen (Germany). in its series cege – Center for European, Governance and Economic Development Research Discussion Papers with number 49.

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Length: 22
Date of creation: 01 Nov 2005
Date of revision:
Handle: RePEc:got:cegedp:49

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Find related papers by JEL classification:
C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances
O12 - Economic Development, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development

This paper has been announced in the following NEP Reports:

NEP-ALL-2005-11-12 (All new papers)

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

Hans Keiding, 2007. "Capabilities and Equality of Health II: Capabilities as Options," Discussion Papers 07-05, University of Copenhagen. Department of Economics. [Downloadable!]
Hans Keiding, 2005. "Capabilities and Equality of Health I," Discussion Papers 05-24, University of Copenhagen. Department of Economics. [Downloadable!]

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