Poverty and Welfare Measurement on the Basis of Prospect Theory
Jantti, Markus; Kanbur, Ravi; Nyyssola, Milla; Pirttila, Jukka
WP 2013-07 January 2013JEL Classification Codes: I32; O12
This study has been prepared within the UNU-WIDER project on 'New Approaches to Measuring Poverty and Vulnerability', directed by Jukka Pirttilä and Markus Jäntti. This paper is reproduced here by permission of UNU-WIDER, who commissioned the original research and holds copyright thereon. UNU-WIDER gratefully acknowledges the financial contributions to the research programme from the governments of Denmark, Finland, Sweden, and the United Kingdom.
Charles H. Dyson School of Applied Economics and Management, Cornell University
prospect theory; poverty; inequality; welfare measurement; vulnerability