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The measurement of welfare change

Walter Bossert () and Bhaskar Dutta ()

CRETA Online Discussion Paper Series from Centre for Research in Economic Theory and its Applications CRETA

Abstract: We propose and characterize a class of measures of welfare change that are based on the generalized Gini social welfare functions. In addition, we analyze these measures in the context of a second-order dominance property that is akin to generalized Lorenz dominance as introduced by Shorrocks (1983) and Kakwani (1984). Because we consider welfare differences rather than welfare levels, the requisite equivalence result involves linear welfare functions (that is, those associated with the generalized Ginis) only, as opposed to the entire class of strictly increasing and S-concave welfare indicators. Journal of Economic

Keywords: Income inequality; welfare change; dominance criteria; generalized Ginis JEL classification numbers: D31 (search for similar items in EconPapers)
Date: 2018
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Journal Article: The measurement of welfare change (2019) Downloads
Working Paper: The measurement of welfare change (2018) Downloads
Working Paper: The Measurement of Welfare Change (2018) Downloads
Working Paper: The measurement of welfare change (2018) Downloads
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