The Welfare Evaluation of Primary Goods: A Suggestion
This 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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- Sen, Amartya, 1979. "The Welfare Basis of Real Income Comparisons: A Survey," Journal of Economic Literature, American Economic Association, vol. 17(1), pages 1-45, March.
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