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.
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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