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Social Choice, Welfare
Distributions and Poverty
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Amartya Sen was awarded
the Nobel Prize for Economics in 1998 for his
contributions to the field of welfare economics,
which range from axiomatic theory of social
choice, over definitions of welfare and poverty
indexes, to empirical studies of famine. They are
tied closely together by a general interest in
distributional issues and a particular interest
in the most impoverished members of society. Sen
has clarified the conditions which permit
aggregation of individual values into collective
decisions, and the conditions which permit rules
for collective decision making that are
consistent with a sphere of rights for the
individual. By analyzing the available
information about different individuals' welfare
when collective decisions are made, he has
improved the theoretical foundation for comparing
different distributions of society's welfare and
defined new, and more satisfactory, indexes of
poverty. In empirical studies, Sen's applications
of his theoretical approach have enhanced our
understanding of the economic mechanisms
underlying famines.
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