A new class of measures of the standard of living based on functionings

Autor(en): Gaertner, Wulf
Xu, Yongsheng
Stichwörter: Business & Economics; capabilities; Economics; functionings; social progress; standard of living; uncertainty
Erscheinungsdatum: 2008
Herausgeber: SPRINGER
Enthalten in: ECONOMIC THEORY
Band: 35
Ausgabe: 2
Startseite: 201
Seitenende: 215
Zusammenfassung: 
Human development is about expanding the choices human beings have to lead lives that they value and is captured by its capability sets which consist of various functioning vectors. The standard of living is then reflected in capability sets. This paper proposes some particular ways of measuring the standard of living available either to an individual or a whole country, when the direction of the development of society represented by a reference functioning vector or a reference cone is uncertain. We provide axiomatic characterizations of the various measures proposed.
ISSN: 09382259
DOI: 10.1007/s00199-007-0229-4

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