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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. Johnston, David W. & Propper, Carol & Shields, Michael A., 2007. "Comparing Subjective and Objective Measures of Health: Evidence from Hypertension for the Income/Health Gradient," IZA Discussion Papers 2737, Institute for the Study of Labor (IZA).
  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.
  3. Gardner, Jonathan & Andrew Oswald, 2002. "Does Money Buy Happiness? A Longitudinal Study Using Data on Windfalls," Royal Economic Society Annual Conference 2002 81, Royal Economic Society.
  4. 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.
  5. Ulrich Witt, 2006. "Evolutionary Economics," Papers on Economics and Evolution 2006-05, Max Planck Institute of Economics, Evolutionary Economics Group.
  6. Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132.
  7. 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.
  8. Anand, Paul & van Hees, Martin, 2006. "Capabilities and achievements: An empirical study," The Journal of Socio-Economics, Elsevier, vol. 35(2), pages 268-284, April.
  9. Cazals, Catherine & Florens, Jean-Pierre & Simar, Léopold, 2002. "Nonparametric Frontier Estimation: A Robust Approach," Open Access publications from University of Toulouse 1 Capitole http://neeo.univ-tlse1.fr, University of Toulouse 1 Capitole.
  10. 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.
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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. 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.
  3. 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).

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