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Conversion Efficiency as a Complementing Measure of Welfare in Capability Space

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Author Info
Binder, Martin
Broekel, Tom

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Abstract

In the capability literature, studies on the empirical measurement in the functionings space are abundant and a few studies even measure capability to function. We suggest adopting a third measure of welfare relevant to economists, namely the "conversion efficiency" measuring the efficiency with which individuals convert their resources into achieved functioning. We use a nonparametric efficiency procedure and construct such a measure for a basket of basic functioning achievement, using data from the British Household Panel Survey (BHPS).

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 7583.

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Date of creation: 09 Mar 2008
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Handle: RePEc:pra:mprapa:7583

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Related research
Keywords: conversion efficiency welfare measurement robust nonparametric efficiency analysis functioning production

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Find related papers by JEL classification:
I12 - Health, Education, and Welfare - - Health - - - Health Production
I31 - Health, Education, and Welfare - - Welfare and Poverty - - - General Welfare
R15 - Urban, Rural, and Regional Economics - - General Regional Economics - - - Econometric and Input-Output Models; Other Methods
I32 - Health, Education, and Welfare - - Welfare and Poverty - - - Measurement and Analysis of Poverty

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  2. Francesco Farina & Eugenio Peluso & Ernesto Savaglio, 2005. "Ranking opportunity sets in the space of functionings," Journal of Economic Inequality, Springer, vol. 2(2), pages 105-116, January. [Downloadable!] (restricted)
  3. Cazals, Catherine & Florens, Jean-Pierre & Simar, Leopold, 2002. "Nonparametric frontier estimation: a robust approach," Journal of Econometrics, Elsevier, vol. 106(1), pages 1-25, January. [Downloadable!] (restricted)
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  5. Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132. [Downloadable!] (restricted)
  6. David C. Wheelock & Paul Wilson, 2003. "Robust nonparametric estimation of efficiency and technical change in U.S. commercial banking," Working Papers 2003-037, Federal Reserve Bank of St. Louis. [Downloadable!]
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  7. Wilson, Paul W, 1993. "Detecting Outliers in Deterministic Nonparametric Frontier Models with Multiple Outputs," Journal of Business & Economic Statistics, American Statistical Association, vol. 11(3), pages 319-23, July.
  8. U. Witt, 2006. "Evolutionary Economics," Papers on Econonmics and Evolution 2006-05, Max Planck Institute of Economics, Evolutionary Economics Group.
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