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An approximation to the standard of living index: the colombian case

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Author Info
Luis Fernando Gamboa ()
Darwin Cortes ()
Jorge Ivan Gonzalez ()

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Abstract

This document seeks to show the main properties of a standard of living index using the theoretical approach of Amartya Sen. We establish the link among concepts such as: welfare, well-being, agency achievement and standard of living. Optimal scaling methodology was fundamental in order to test the properties on the Colombian case. These properties are Monotonicity, No independence of irrelevant alternatives, Concavity, Informativity and Substituibility. Resumen. El documento busca mostrar las principales propiedades de un indicador de estándar de vida dentro del enfoque teórico de Amartya Sen. Establecemos un puente entre conceptos tales como: bienestar económico, bienestar, logro de agencia y estándar de vida. La metodología del Optimal scaling fue usada para probar las propiedades de Monotonicidad, No independencia de alternativas irrelevantes, Concavidad, informatividad y sustituibilidad. ********************************************************************** El documento busca mostrar las principales propiedades de un indicador de estándar de vida dentro del enfoque teórico de Amartya Sen. Establecemos un puente entre conceptos tales como: bienestar económico, bienestar, logro de agencia y estándar de vida. La metodología del Optimal scaling fue usada para probar las propiedades de Monotonicidad, No independencia de alternativas irrelevantes, Concavidad, informatividad y sustituibilidad.

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Paper provided by UNIVERSIDAD DEL ROSARIO - FACULTAD DE ECONOMÍA in its series BORRADORES DE INVESTIGACIÓN with number 001972.

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Length: 22
Date of creation: 03 Nov 2001
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Handle: RePEc:col:000091:001972

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  1. Sen, Amartya, 1993. "Markets and Freedoms: Achievements and Limitations of the Market Mechanism in Promoting Individual Freedoms," Oxford Economic Papers, Oxford University Press, vol. 45(4), pages 519-41, October. [Downloadable!] (restricted)
  2. Amartya Sen, 1997. "Maximization and the Act of Choice," Econometrica, Econometric Society, vol. 65(4), pages 745-780, July.
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  3. S. Winsberg & J. Ramsay, 1983. "Monotone spline transformations for dimension reduction," Psychometrika, Springer, vol. 48(4), pages 575-595, December. [Downloadable!] (restricted)
  4. Forrest Young & Yoshio Takane & Jan Leeuw, 1978. "The principal components of mixed measurement level multivariate data: An alternating least squares method with optimal scaling features," Psychometrika, Springer, vol. 43(2), pages 279-281, June. [Downloadable!] (restricted)
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