Jäntti, Markus; Kanbur, Ravi; Nyyssölä, Milla; … - 2012
This paper examines the measurement of social welfare, poverty and inequality taking into account features that have …-dependence, loss aversion and diminishing sensitivity - aspects emphasized in prospect theory - to social welfare measurement. We … based on equivalent income. These differences are illustrated using household-level panel data from Russia and Vietnam. …