Standards of Living Inequalities and Allocation of Funding: The Case of Greece   

An analysis of consumer’s decision making indicates that the weights used for the regional variables considered and included in an index should not vary across regions. Given this, a regional index is computed for the 10 major regions of Greece assuming that all variables incorporated in it are equally weighted. Regional indices are then compared with the per capita European Union funding and finally, the actual versus the planned spending of the European Union funding is analysed.