In this paper we propose an approach to vulnerability called perceived vulnerability to downside risk. We argue that the other concepts of vulnerability, though partially adhering to the focus axiom, do not exclusively consider downside risks in their measures. The reason for this is that most...

We investigate the unexplored link between the risk of poverty and happiness in the context of a developing country. Using unique longitudinal data, we estimate workers' vulnerability to income-poverty and find a strong negative relationship between vulnerability and happiness, over and above a...

Traditional risk assessments use asset losses as the main metric to measure the severity of a disaster. This paper proposes an expanded risk assessment based on a framework that adds socioeconomic resilience and uses wellbeing losses as its main measure of disaster severity. Using a new,...