The Welfare Evaluation of Primary Goods: A Suggestion
AbstractThis paper presents a characterization of a welfare index for the evaluation of primary goods (to be understood as those goods that all agents should enjoy equally). The welfare associated with a given distribution of n primary goods among m agents is measured as the sum of n real-valued functions, one for each good, which are increasing in the aggregate consumption and decreasing in its dispersion (measured by Theil's first inequality index).
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Bibliographic InfoPaper provided by Institute for Advanced Studies in its series Economics Series with number 98.
Length: 14 pages
Date of creation: Mar 2001
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Find related papers by JEL classification:
- D30 - Microeconomics - - Distribution - - - General
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
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