"The measurement of household welfare is one of the most compelling yet demanding areas in economics. To place the analysis of inequality and poverty within an economic framework where individuals are making decisions about current and lifetime incomes and expenditures is a difficult task. This is made all the more challenging by the complexity of the decision making process in which households are involved, and the variety of constraints that they face." "Issues which are important and topical are addressed in this volume by contributions from experts from Europe, North America, and Australia. A unifying theme is the strong relationship between the theoretical concepts from microeconomics and the appropriate use of micro data in evaluating household welfare." "This book will be of interest to advanced students and active researchers in microeconomics, public economics, applied microeconometrics, and social policy."--BOOK JACKET.