Berg, Kristoffer; Håvarstein, Morten; Piacquadio, Paolo G. - 2024
There is no consensus on how to measure social welfare and inequality when households have different needs. As we show …-order importance for social welfare, but generally plays a minor role in the measurement of inequality. To address this impasse, we … introduce partial compensation. Our axiomatic characterizations reveal novel families of welfare criteria and, with the …