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On Measuring Vulnerability to Poverty

Author

Listed:
  • James E. Foster

    (Institute for International Economic Policy, George Washington University)

  • Indranil Dutta

    (Department of Economics, University of Manchester)

  • Ajit Mishra

    (Department of Economics, University of Bath)

Abstract

There is a growing interest on dynamic and broader concepts of deprivation such as vulnerability, which takes in to account the destitution of individuals from future shocks. We use the framework of decision making under uncertainty to arrive at a new measure of vulnerability to poverty. We highlight the importance of current standard of living to better capture the notion of vulnerability. In conceptualizing the new class of measures of vulnerability we thus move beyond the standard expected poverty measures that is commonly found in the literature. We also axiomatically characterize the new class of measure and discuss some of its properties.

Suggested Citation

  • James E. Foster & Indranil Dutta & Ajit Mishra, 2010. "On Measuring Vulnerability to Poverty," Working Papers 2010-13, The George Washington University, Institute for International Economic Policy.
    • Handle: RePEc:gwi:wpaper:2010-13
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    Keywords

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    JEL classification:

    • D69 - Microeconomics - - Welfare Economics - - - Other
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs

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