Abstract
Conventional definitions suggest that the concept of economic welfare underpins poverty. Unsettled issues abound with respect to using subjective versus objective approaches, however. Using micro-level survey data, this paper explores subjective and objective concepts of economic welfare to identify characteristics of poverty in Kathmandu. While application of the subjective and objective concepts of economic welfare yields rather different characteristics, the former appears to be more comprehensive with ability to incorporate the latter in poverty measurement and analysis. This indicates that subjective assessments of households can provide a more realistic picture of poverty when used with actual income and consumption data. Although this paper does not seek to develop any particular poverty standard, it provides a useful framework for integrating subjective and objective approaches with a promise of more comprehensive poverty measurement outcomes.
Original language | English (US) |
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Pages (from-to) | 73-95 |
Number of pages | 23 |
Journal | Journal of Economic Inequality |
Volume | 5 |
Issue number | 1 |
DOIs | |
State | Published - Apr 2007 |
Externally published | Yes |
Keywords
- Consumption
- Income
- Kathmandu
- Poverty
- Structural equation
- Subjective views
ASJC Scopus subject areas
- Sociology and Political Science
- General Economics, Econometrics and Finance
- Organizational Behavior and Human Resource Management