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-dependence, loss aversion and diminishing sensitivity - aspects emphasized in prospect theory - to social welfare measurement. We …. -- prospect theory ; poverty ; inequality ; welfare measurement ; vulnerability …
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-dependence, loss aversion and diminishing sensitivity - aspects emphasized in Prospect Theory - to social welfare measurement. We … equivalent income. These differences are illustrated using household-level panel data from Russia and Vietnam. -- Prospect Theory …
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This paper considers a parametric model for the joint distribution of income and wealth. The model is used to analyze income and wealth inequality in five OECD countries using comparable household-level survey data. We focus on the dependence parameter between the two variables and study whether...
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