Inequality-averse well-being measurement

Fleurbaey, Marc;Maniquet, François
(2018) International Journal of Economic Theory — Vol. 14, p. 35-50 (2018)

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Abstract
We construct individual well-being measures that respect individual preferences and depend on the bundles of goods consumed by the individual. Building on previous work in which general families of well-being measures are identified, we introduce basic transfer principles that apply either to bundles or directly to indifference sets, and we characterize specific well-being measures that involve either the ray utility or the money-metric utility.
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Fleurbaey, M., & Maniquet, F. (2018). Inequality-averse well-being measurement. International Journal of Economic Theory, 14, 35-50. https://doi.org/10.1111/ijet.12140 (Original work published 2018)