This paper examines the measurement of social welfare, poverty and inequality taking into account features that have … the differences between standard poverty and inequality measures based on observed income and measures that are calculated … based on equivalent income. These differences are illustrated using household-level panel data from Russia and Vietnam …

This paper examines the measurement of social welfare, poverty and inequality taking into account reference … differences between standard poverty and inequality measures based on observed income and measures that are calculated based on … equivalent income. These differences are illustrated using household-level panel data from Russia and Vietnam. -- Prospect Theory …