A Generalized Approach to Subjective Inequalities

Bernard Van Praag

in Happiness Quantified

Published in print April 2004 | ISBN: 9780198286547
Published online January 2005 | e-ISBN: 9780191718601 | DOI:
 A Generalized Approach to Subjective Inequalities

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This chapter applies the subjective income inequality concept developed in Chapter 13 to analyse inequality in domains of life other than finance such as health, job, marriage, etc. It is shown that if satisfaction vector inequality is defined as a variance-covariance matrix of a vector of individual satisfactions, those satisfaction dimensions are highly correlated. The inequality of satisfaction with life as a whole can be defined as an aggregate of several domain satisfactions, which is a more important index to evaluating the distribution of well-being in a population than inequality with respect to one domain.

Keywords: subjective income inequality; satisfaction inequality; domain satisfactions; general satisfaction; individual satisfaction

Chapter.  3784 words. 

Subjects: Microeconomics

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