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A reconsideration of the tradeoffs in the new human development index

This paper demonstrates that the perfect tradeoff implication of the old Human Development Index can be avoided by employing a notion of imperfect tradeoff in the characterization of the Human Development Index. The resulting index is shown to be ordinally equivalent to the Chakravarty (Rev Dev Econ 7:99–114, 2003) generalized Human Development Index.

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Correspondence to Satya R. Chakravarty.

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For comments and suggestions, I thank Jean-Yves Duclos and Nora Lustig. I am grateful to Martin Ravallion for making his unpublished paper available to me.

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Chakravarty, S.R. A reconsideration of the tradeoffs in the new human development index. J Econ Inequal 9, 471 (2011). https://doi.org/10.1007/s10888-011-9190-3

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Keywords

  • Human development index
  • Tradeoffs
  • Axioms
  • Characterization