Economics, Econometrics and Finance
8 years ago

New social welfare formula includes poverty impact for fairer distribution

Economics Letters
An axiomatic basis for the three objective social welfare function within a poverty context
Robert J. Brent

Paper Summary

The article argues that when considering social welfare, we should also look at the number of people living in poverty, not just distribution and efficiency. They found that no simple combination of weights, efficiency, and distribution can meet two basic rules.

Related papers

Theme background image
Social Sciences
3 years ago

New social welfare function includes poverty line to address inequality.

Income Inequality
1 view
Decision Sciences
4 years ago

New study reveals social welfare functions bridge income evaluation disparities.

Behavioral Economics
1 view
Theme background image
Health Professions
8 years ago

New axioms for health care allocation could revolutionize resource distribution.

Health Care Expenditure
Quality of Life
Behavioral Economics