Hierarchy of needs and the measurement of poverty and standards of living / Joseph Deutsch, Jacques Silber.

By:

Deutsch, Joseph, 1950- [author.]

Contributor(s):

Silber, Jacques [author.]

Material type: Text

TextSeries: Cambridge elements. Elements in development economics,Publisher: Cambridge : Cambridge University Press, 2024Description: 1 online resource (90 pages) : digital, PDF file(s)Content type:

text

Media type:

computer

Carrier type:

online resource

ISBN:

9781009358200 (ebook)

Subject(s):

Additional physical formats: Print version: : No titleDDC classification:

339.2 23

LOC classification:

HB523 .D48 2024

Online resources:

Click here to access online

Summary: The focus of this Element is on the idea that choice is hierarchical so that there exists an order of acquisition of durable goods and assets as real incomes increase. Two main approaches to deriving such an order are presented, the so-called Paroush approach and Item Response Theory. An empirical illustration follows, based on the 2019 Eurobarometer Survey. The Element ends with two sections showing first how measures of inequality, poverty and welfare may be derived from such an order of acquisition, second that there is also an order of curtailment of expenditures when individuals face financial difficulties. This title is also available as Open Access on Cambridge Core.

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Title from publisher's bibliographic system (viewed on 12 Feb 2024).

The focus of this Element is on the idea that choice is hierarchical so that there exists an order of acquisition of durable goods and assets as real incomes increase. Two main approaches to deriving such an order are presented, the so-called Paroush approach and Item Response Theory. An empirical illustration follows, based on the 2019 Eurobarometer Survey. The Element ends with two sections showing first how measures of inequality, poverty and welfare may be derived from such an order of acquisition, second that there is also an order of curtailment of expenditures when individuals face financial difficulties. This title is also available as Open Access on Cambridge Core.

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