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Conversion Efficiency as a Complementing Measure of Welfare in Capability Space

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  • Binder, Martin
  • Broekel, Tom

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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Bibliographic Info

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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Keywords: conversion efficiency; welfare measurement; robust nonparametric efficiency analysis; functioning production;

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  1. David W.Johnston & Carol Propper & Michael A.Shields, 2007. "Comparing Subjective and Objective Measures of Health: Evidence from Hypertension for the Income/Health Gradient," The Centre for Market and Public Organisation 07/171, Department of Economics, University of Bristol, UK.
  2. Cook, Wade D. & Seiford, Larry M., 2009. "Data envelopment analysis (DEA) - Thirty years on," European Journal of Operational Research, Elsevier, vol. 192(1), pages 1-17, January.
  3. 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.
  4. Wilson, Paul W, 1993. "Detecting Outliers in Deterministic Nonparametric Frontier Models with Multiple Outputs," Journal of Business & Economic Statistics, American Statistical Association, American Statistical Association, vol. 11(3), pages 319-23, July.
  5. 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.
  6. 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.
  7. Léopold Simar, 2003. "Detecting Outliers in Frontier Models: A Simple Approach," Journal of Productivity Analysis, Springer, vol. 20(3), pages 391-424, November.
  8. Anand, Paul & van Hees, Martin, 2006. "Capabilities and achievements: An empirical study," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 35(2), pages 268-284, April.
  9. Simar, Leopold & Wilson, Paul W., 2007. "Estimation and inference in two-stage, semi-parametric models of production processes," Journal of Econometrics, Elsevier, vol. 136(1), pages 31-64, January.
  10. Ulrich Witt, 2006. "Evolutionary Economics," Papers on Economics and Evolution 2006-05, Philipps University Marburg, Department of Geography.
  11. Gardner, Jonathan & Andrew Oswald, 2002. "Does Money Buy Happiness? A Longitudinal Study Using Data on Windfalls," Royal Economic Society Annual Conference 2002, Royal Economic Society 81, Royal Economic Society.
  12. Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 74, pages 132.
  13. DEPRINS, Dominique & SIMAR, Léopold & TULKENS, Henry, . "Measuring labor-efficiency in post offices," CORE Discussion Papers RP -571, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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Cited by:
  1. Hasan, Hamid, 2009. "Capabilities measurement: an empirical investigation," MPRA Paper 16742, University Library of Munich, Germany, revised 12 Aug 2009.
  2. Leßmann, Ortrud, 2011. "Empirische Studien zum Capability Ansatz auf der Grundlage von Befragungen: Ein Überblick," UFZ Discussion Papers 4/2011, Helmholtz Centre for Environmental Research (UFZ), Division of Social Sciences (ÖKUS).
  3. Jürgen Volkert & Friedrich Schneider, 2011. "The Application of the Capability Approach to High-Income OECD Countries: A Preliminary Survey," CESifo Working Paper Series 3364, CESifo Group Munich.

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