Hierarchy of Needs and the Measurement of Poverty and Standards of - Livin

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.

List of contents

1. Introduction; 2. Economics and Hierarchical Choice; 3. Deriving the order of acquisition of durable goods and assets: methodologies; 4. Deriving the order of acquisition of durable goods and assets: empirical illustrations; 5. The order of acquisition of durable goods and assets and the measurement of inequality, poverty, and welfare; 6. On the order of curtailment of expenditures; 7. Concluding comments.

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. This title is also available as Open Access on Cambridge Core.

Foreword

Using Eurobarometer and Israeli data the Element analyzes the orders of acquisition of durable goods and curtailment of expenditures.

Product details

• Authors: Joseph Deutsch, Joseph (Bar-Ilan University and Ashkelon Deutsch, Deutsch Joseph, Jacques Silber, Silber Jacques
• Publisher: Cambridge University Press ELT
• Languages: English
• Product format: Hardback
• Released: 29.02.2024
• EAN: 9781009485975
• ISBN: 978-1-0-0948597-5
• No. of pages: 102
• Series: Elements in Development Economics
• Subjects: Social sciences, law, business > Business > General, dictionaries; BUSINESS & ECONOMICS / Economics / General, SOCIAL SCIENCE / Poverty & Homelessness, BUSINESS & ECONOMICS / Development / Economic Development, Poverty & unemployment, economic growth, Economic systems and structures, Economic systems & structures, Development economics & emerging economies, Development economics and emerging economies, Poverty and precarity