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The welfare function is a characteristic number suggested by Amartya Sen.

Welfare function = gross national income (1 - unequal distribution coefficient)

As unequal distribution coefficient for example the Gini coefficient can be consulted, which was determined for the unequal distribution of the incomes in a country. Suitably is also every other relative unequal distribution coefficient, which can take values within the range between 0 and 1 (and/or 0% and 100%). James E. Foster (S. literature) suggested for example the Atkinson coefficient (an entropy measure).

Literature

  • Amartya Sen: On Economic Inequality - expanded edition with substantial annexes by James E. Foster and Amartya Sen, 1973/1996, ISBN 0-19-828193-5

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