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On Trade-offs in the Human Development Indices |
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Satya R. Chakravarty |
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The new Human Development Index aggregates country level attainments in life expectancy, schooling and percapita income by using the geometric averaging rule. This paper demonstrates that this aggregation gives rise to some undesirable characteristics. It also shows that these problems could have been avoided by using a different aggregation procedure that imposes imperfect substitution at the outset. |
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