Conversion Efficiency as a Complementing Measure of Welfare in Capability Space
AbstractIn 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 InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 7583.
Date of creation: 09 Mar 2008
Date of revision:
conversion efficiency; welfare measurement; robust nonparametric efficiency analysis; functioning production;
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, Regional, Real Estate, and Transportation 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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