- On the Welfare Evaluation of Income and Opportunity
- Antonio Villar, University of Alicante & Ivie
- A BEJTE Contributions article.
- Abstract
- This paper provides an axiomatization of a cardinal welfare measure for the evaluation of income and opportunity. Following Roemer's (1998) formulation of equality of opportunity, we divide the society in n effort groups consisting of subsets of agents who exert a comparable degree of effort. We show that social welfare can be measured as the sum of n partial indices, one for each effort group, each of which consists of a function of the aggregate income of the group and its dispersion (measured by Theil's first inequality index).
- Corrigendum
- Corrigendum to On the Welfare Evaluation of Income and Opportunity
- Submitted: January 23, 2004 · Accepted: May 1, 2005
- Originally published in Contributions to Theoretical Economics.
- Recommended Citation
- Villar, Antonio
(2005)
"On the Welfare Evaluation of Income and Opportunity,"
Contributions to Theoretical Economics:
Vol. 5
:
Iss.
1, Article 3.
Available at: http://www.bepress.com/bejte/contributions/vol5/iss1/art3
