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Value of Life, Value of Time, and Constant Relative Risk Aversion Utility.

Feldman, Allan M. - 1998

This paper develops two straightforward value of life models; one is a probabilistic value of life model and the second is a determinstic value of time model. Simplifying assumptions allow both models to be solved analytically. Constant relative risk aversion utility functions are used, and both...

Persistent link: https://www.econbiz.de/10010420250

Arrow's impossibility theorem: Two simple single-profile versions

Feldman, Allan M.; Serrano, Roberto - 2006

In this short paper we provide two versions of Arrow’s impossibility theorem, in a world with only one preference profile. Both versions are extremely simple and allow a transparent understanding of Arrow’s theorem. The first version assumes a two-agent society; the second version, which is...

Persistent link: https://www.econbiz.de/10010318869

Arrow's impossibility theorem: Preference diversity in a single-profile world

Feldman, Allan M.; Serrano, Roberto - 2007

In this paper we provide a simple new version of Arrow’s impossibility theorem, in a world with only one preference profile. This theorem relies on a new assumption of preference diversity, and we explore alternative notions of preference diversity at length.

Persistent link: https://www.econbiz.de/10010318976

Arrow's impossibility theorem: Two simple single-profile versions

Feldman, Allan M.; Serrano, Roberto - 2008

In this paper we provide two simple new versions of Arrow's impossibility theorem, in a model with only one preference profile. Both versions are transparent, requiring minimal mathematical sophistication. The first version assumes there are only two people in society, whose preferences are...

Persistent link: https://www.econbiz.de/10010284084

The measurement of time and income poverty

Zacharias, Ajit - 2011

Official poverty thresholds are based on the implicit assumption that the household with poverty-level income possesses … of the assumption and explored alternative methods to account for time deficits in the measurement of poverty. I … individual approaches. I also propose a two-dimensional, time-income poverty measure that accounts for intrahousehold disparities …

Persistent link: https://www.econbiz.de/10010286513

Net government expenditures and the economic well-being of the elderly in the United States, 1989 - 2001

Kum, Hyunsub; Wolff, Edward N.; Zacharias, Ajit - 2006

We examine the economic well-being of the elderly, using the Levy Institute Measure of Economic Well-Being (LIMEW). Compared to the conventional measures of income, the LIMEW is a comprehensive measure that incorporates broader definitions of income from wealth, government expenditures, and...

Persistent link: https://www.econbiz.de/10010266455

The Great Recession and racial inequality: Evidence from measures of economic well-being

Masterson, Thomas; Zacharias, Ajit; Rios-Avila, Fernando; … - 2017

The Great Recession had a tremendous impact on low-income Americans, in particular black and Latino Americans. The losses in terms of employment and earnings are matched only by the losses in terms of real wealth. In many ways, however, these losses are merely a continuation of trends that have...

Persistent link: https://www.econbiz.de/10011784670