On the Welfare Evaluation of Income and Opportunity
This paper provides an axiomatization of a cardinal welfare measure for the evaluation of income and opportunity. Following Roemer's (1998) formulation of equality of opportunity, we divide the society in n effort groups consisting of subsets of agents who exert a comparable degree of effort. We show that social welfare can be measured as the sum of n partial indices, one for each effort group, each of which consists of a function of the aggregate income of the group and its dispersion (measured by Theil's first inequality index).
Year of publication: |
2005
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Authors: | Antonio, Villar |
Published in: |
The B.E. Journal of Theoretical Economics. - De Gruyter, ISSN 1935-1704. - Vol. 5.2005, 1, p. 1-21
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Publisher: |
De Gruyter |
Saved in:
Online Resource
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