Hierarchy of Needs and the Measurement of Poverty and Standards of Living

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Joseph Deutsch (Bar-Ilan University and Ashkelon Academic College) Jacques Silber (Bar-Ilan University)

Hierarchy of Needs and the Measurement of Poverty and Standards of Living

Joseph Deutsch (Bar-Ilan University and Ashkelon Academic College), Jacques Silber (Bar-Ilan University)

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English

Cambridge University Press
22 February 2024

Poverty & unemployment; Economic growth; Development economics; Economic systems & structures

Series: Elements in Development Economics

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.

By: Joseph Deutsch (Bar-Ilan University and Ashkelon Academic College), Jacques Silber (Bar-Ilan University)
Imprint: Cambridge University Press
Country of Publication: United Kingdom
Dimensions: Height: 229mm, Width: 152mm, Spine: 8mm
Weight: 287g
ISBN: 9781009485975
ISBN 10: 1009485970
Series: Elements in Development Economics
Pages: 102
Publication Date: 22 February 2024
Audience: College/higher education , A / AS level
Format: Hardback
Publisher's Status: Active

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.