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Eliciting preferences for well-being measurement: A comparison of methods

Author

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  • Shaun da Costa

    (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - ENPC - École nationale des ponts et chaussées - IP Paris - Institut Polytechnique de Paris)

  • Marc Fleurbaey

    (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - ENPC - École nationale des ponts et chaussées - IP Paris - Institut Polytechnique de Paris, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - ENPC - École nationale des ponts et chaussées - IP Paris - Institut Polytechnique de Paris)

  • Santiago Burone

    (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - ENPC - École nationale des ponts et chaussées - IP Paris - Institut Polytechnique de Paris, Universiteit Antwerpen = University of Antwerp)

  • Capucine Jaud

    (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - ENPC - École nationale des ponts et chaussées - IP Paris - Institut Polytechnique de Paris)

  • Erik Schokkaert

    (University of Leuven, K.U.Leuven)

  • Koen Decancq

    (Universiteit Antwerpen = University of Antwerp)

  • Clémence Thébaut

    (UB - Université de Bordeaux)

  • Brigitte Dormont

    (Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres)

Abstract

The elicitation of willingness to pay remains a serious empirical challenge. Such elicitation is important for cost-benet analysis. It is also central to the estimation of equivalent income, a multidimensional measure of well-being that respects individual preferences by adjusting income to incorporate an individual's willingness to pay to achieve a reference level in non-income dimensions. In this paper, we test four different preference elicitation methods with an online survey of almost 2,000 French respondents. Our experimental design allows us to compare both between-and within-respondent variations in willingness to pay and equivalent income. In addition, we consider two non-income dimensions: health and social interactions, the latter of which has been relatively neglected in welfare economics literature. We find large dierences between the elicited values across methods and dimensions.

Suggested Citation

  • Shaun da Costa & Marc Fleurbaey & Santiago Burone & Capucine Jaud & Erik Schokkaert & Koen Decancq & Clémence Thébaut & Brigitte Dormont, 2025. "Eliciting preferences for well-being measurement: A comparison of methods," PSE Working Papers halshs-05416108, HAL.
    • Handle: RePEc:hal:psewpa:halshs-05416108
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-05416108v1
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