- Series Information
- The Oxford Handbook of Well-Being and Public Policy
- List of Contributors
- Cost-Benefit Analysis
- Inequality and Poverty Measures
- Social Welfare Functions
- QALY-Based Cost-Effectiveness Analysis
- Fair Allocation
- Social Ordering Functions
- Multidimensional Indicators of Inequality and Poverty
- Happiness-Based Policy Analysis
- Preference-Based Views of Well-Being
- Mental State Approaches to Well-Being
- Objective Goods
- Subjective Well-Being in Psychology
- Subjective Well-Being in Economics
- Equivalent Income
- Extended Preferences
- SWB as a Measure of Individual Well-Being
- Does the Choice of Well-Being Measure Matter Empirically?
- Does Fairness Require a Multidimensional Approach?
- The Capability Approach and Well-Being Measurement for Public Policy
- Measuring Poverty: A Proposal
- Multidimensional Poverty Indices: A Critical Assessment
- Social Evaluation under Risk and Uncertainty
- Individual Responsibility and Equality of Opportunity
- Welfare Comparisons with Heterogeneous Prices, Consumption, and Preferences
- Welfare and the Household
- Preference Inconsistency: A Psychological Perspective
- Lifetime Well-Being
- The Well-Being of Future Generations
- Author Index
- Subject Index
Abstract and Keywords
The theory of inequality measurement can be founded on a few very simple principles concerning the comparison of income distributions. This chapter discusses the standard principles and the types of inequality indices that follow from them. It shows how these principles and indices can be related to conventional approaches to social-welfare analysis. Adjusting a few pieces within this same framework enables one to derive alternative, novel types of inequality indices and lays the basis for commonly-used types of poverty indices. The chapter also covers other general approaches to distributional comparisons including first-order and second-order dominance and their interpretation in terms of inequality and poverty.
Professor, Economics, London School of Economics
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