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Households, Goods, and Well-Being

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  • Ringen, Stein

Abstract

Household economies translate goods into well-being through production, cooperation, 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. Copyright 1996 by The International Association for Research in Income and Wealth.

Suggested Citation

  • Ringen, Stein, 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:421-31
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    Cited by:

    1. Zaidi, Asghar & Burchardt, Tania, 2003. "Comparing incomes when needs differ: equivalisation for the extra costs of disability in the UK," LSE Research Online Documents on Economics 6373, London School of Economics and Political Science, LSE Library.
    2. Bigsten, Arne & Shimeles, Abebe, 2004. "Prospects for 'Pro-Poor' Growth in Africa," WIDER Working Paper Series 042, World Institute for Development Economic Research (UNU-WIDER).

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