Equivalent income <i>versus</i> equivalent lifetime: does the metric matter?

Abstract We examine the effects of postulated metric on measurement well-being, by comparing, in (income, lifetime) space, two indexes: equivalent income index and lifetime index. The conditions under which exists are more restrictive than ones exists, but it is possible to define an alternative index, based reference levels, for non-existence problem less acute. Those indexes also shown satisfy different properties concerning interpersonal well-being comparisons, can lead contradictory rankings. While those incompatibilities arise distinct indifference maps, we explore while relying a unique map, show that, even that case, matters well-being.