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Subjective Well-Being Approach to the Valuation of International Development: Evidence for the Millennium Development Goals

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  • Beja Jr., Edsel L.

Abstract

The subjective well-being approach to the valuation of international development is applied to the Millennium Development Goals (MDGs). The rich countries have particular preferences for education, healthcare, and housing; they need compensation for failure to meet the targets by 2015. The poor countries view all the targets as important; they can accept compensation for failure to achieve the targets by 2015, with amounts equivalent to what would have been 0.7% proportion of the incomes of the rich countries for international aid. The MDGs are affordable and doable, yet the rich countries are foot-dragging in fulfilling their pledges for international aid.

Suggested Citation

  • Beja Jr., Edsel L., 2011. "Subjective Well-Being Approach to the Valuation of International Development: Evidence for the Millennium Development Goals," MPRA Paper 27865, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:27865
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    References listed on IDEAS

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    More about this item

    Keywords

    Subjective well-being; happiness research; Millennium Development Goals; valuation;

    JEL classification:

    • I30 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • D60 - Microeconomics - - Welfare Economics - - - General

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