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On measuring vulnerability to poverty

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  • Indranil Dutta
  • James Foster
  • Ajit Mishra

Abstract

There is a growing interest on dynamic and broader concepts of deprivation such as vulnerability, which takes in to account the destitution of individuals from future shocks. We use the framework of decision making under uncertainty to arrive at a new measure of vulnerability to poverty. We highlight the importance of current standard of living to better capture the notion of vulnerability. In conceptualizing the new class of measures of vulnerability we thus move beyond the standard expected poverty measures that is commonly found in the literature. We also axiomatically characterize the new class of measure and discuss some of its properties.
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Suggested Citation

  • Indranil Dutta & James Foster & Ajit Mishra, 2011. "On measuring vulnerability to poverty," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 37(4), pages 743-761, October.
    • Handle: RePEc:spr:sochwe:v:37:y:2011:i:4:p:743-761
    DOI: 10.1007/s00355-011-0570-1
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    More about this item

    JEL classification:

    • D69 - Microeconomics - - Welfare Economics - - - Other
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs

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