This paper examines the measurement of social welfare, poverty and inequality taking into account reference …-dependence, loss aversion and diminishing sensitivity—aspects emphasized in Prospect Theory—to social welfare measurement. We suggest a … differences between standard poverty and inequality measures based on observed income and measures that are calculated based on …

endowments of the factors that complement the schooling process. The paper explores the relationship between inequality of … opportunities, inequality of outcomes, and efficiency in human capital formation. Using numerical solutions we study how the …-preserving spread and a change in the support. The results suggest that a higher degree of inequality of opportunities is associated …

unimodal one, the evolution of the health distribution has preceded that of income, global inequality and poverty has decreased … indicates that global inequality would be underestimated if within-country inequality is not taken into account. Moreover …, global inequality and poverty would be substantially underestimated if the dependence between the income and health …

inequality are gradual and cumulative. In case of a complete liberalization, the world average level of GDP per worker increases … by 20 percent in the short-run, and by more than 55 percent after 50 years. The world average index of inequality … identifying assumptions. We also analyze partial liberalization shocks: efficiency and inequality effects are roughly proportional …

Our goal is to examine the income inequality and welfare effects of the direct distribution of resource rents and … rents-induced inequality. …

inequality and widening gaps between rich and poor, and urban and rural. It is therefore it is important to examine the … interrelationships between inequality and economic growth. This paper develops a simple model to establish that the change in income …, inequality and growth bear a non-linear relationship: for low values of inequality, economic growth rate is an inverted U …