Multidimensional indices are becoming increasingly important instruments to assess the wellbeing of societies. They move beyond the focus on a single indicator and yet they are easy to present and communicate. A crucial step in the construction of a multidimensional index of wellbeing is the...

Individual well-being depends not only on income but also on other dimensions of life, such as health, the quality of social relations and of the environment, employment, and job satisfaction. In this paper we survey the economic literature on how to construct such overall measures of...

Recently there has been a growing interest in the empirical association between income inequality and social mobility. Little is known on the normative nexus between both notions, however. In this paper, we axiomatically characterize a family of multiperiod social evaluation functions that...

We discuss and compare fi…ve measures of individual well-being, namely income, an objective composite well-being index, a measure of subjective well-being, equivalent income, and a well-being measure based on the von Neumann-Morgenstern utilities of the individuals. After examining the...

A Fréchet class collects all multivariate joint distribution functions that have the same marginals. Members of a Fréchet class only differ with respect to the interdependence between their marginals. In this paper, I study orders of interdependence on a Fréchet class using two multivariate...