. This paper proposes a simple new distribution sensitive welfare index with intuitive units: the average factor by which … individual incomes must be multiplied to attain a given reference level of income. This new index is subgroup decomposable with … population weights and satisfies the three main definitions of distribution sensitivity in the literature. Variants on this index …

Poverty, inequality and social welfare are defined in this book. Previous poverty studies are surveyed and a new index … of poverty is developed based on everyday meanings, and stressing the individual and relative nature of poverty. Previous … definitions of inequality and welfare are described and the relations between them and poverty are explored. New estimates of …