A Simple Axiomatization of the Foster, Greer and Thorbecke Poverty Orderings
The paper presents a simple characterization of the poverty orderings which are represented by a poverty measure belonging to the Foster, Greer, and Thorbecke class. All properties introduced are formulated within an ordinal framework. Furthermore, a new concept is proposed: the equivalent societal income which-if given to each individual in society-yields the same level of poverty as the actual income distribution. It is a specific indicator of the underlying poverty ordering, has attractive properties and allows us to prove the main result in a direct way. Copyright Blackwell Publishing, Inc. 2002.
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Volume (Year): 4 (2002)
Issue (Month): 4 (October)
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