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 it's properties.
|Name||Bath Economics Research Working Papers|
- Global political economy