Show Summary Details

Page of

PRINTED FROM OXFORD HANDBOOKS ONLINE (www.oxfordhandbooks.com). © Oxford University Press, 2018. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a title in Oxford Handbooks Online for personal use (for details see Privacy Policy and Legal Notice).

date: 12 December 2019

Abstract and Keywords

The notion of equivalent income has been elaborated in the specialized context of comparing living standards of individuals in different situations regarding non-income attributes (household size, quality of life, market prices). It is defined as the income that would provide the same satisfaction as the current situation if the non-income attributes took particular reference values. Beyond the comparison of living standards, it deserves to be considered as a philosophically promising solution to the problem of interpersonal comparisons of well-being, for the context of social welfare evaluation. It appears indeed attractive when interpersonal comparisons are meant to respect individual preferences while focusing on objective functionings rather than subjective levels of satisfaction or happiness. In this chapter it is scrutinized and compared to alternative approaches: extended preferences, subjective well-being, capabilities.

Keywords: equivalent income, money-metric utility, living standards, extended preferences, subjective well-being, capabilities

Access to the complete content on Oxford Handbooks Online requires a subscription or purchase. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription.

Please subscribe or login to access full text content.

If you have purchased a print title that contains an access token, please see the token for information about how to register your code.

For questions on access or troubleshooting, please check our FAQs, and if you can''t find the answer there, please contact us.