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Subjective Economic Welfare
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Book Synopsis The Oxford Handbook of Well-Being and Public Policy by : Matthew D. Adler
Download or read book The Oxford Handbook of Well-Being and Public Policy written by Matthew D. Adler and published by Oxford University Press. This book was released on 2016-04-21 with total page 985 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the methodologies for assessing and improving governmental policy in light of well-being? The Oxford Handbook of Well-Being and Public Policy provides a comprehensive, interdisciplinary treatment of this topic. The contributors draw from welfare economics, moral philosophy, and psychology and are leading scholars in these fields. The Handbook includes thirty chapters divided into four Parts. Part I covers the full range of methodologies for evaluating governmental policy and assessing societal condition-including both the leading approaches in current use by policymakers and academics (such as GDP, cost-benefit analysis, cost-effectiveness analysis, inequality and poverty metrics, and the concept of the "social welfare function"), and emerging techniques. Part II focuses on the nature of well-being. What, most fundamentally, determines whether an individual life is better or worse for the person living it? Her happiness? Her preference-satisfaction? Her attainment of various "objective goods"? Part III addresses the measurement of well-being and the thorny topic of interpersonal comparisons. How can we construct a meaningful scale of individual welfare, which allows for comparisons of well-being levels and differences, both within one individual's life, and across lives? Finally, Part IV reviews the major challenges to designing governmental policy around individual well-being.
Book Synopsis Wealth(s) and Subjective Well-Being by : Gaël Brulé
Download or read book Wealth(s) and Subjective Well-Being written by Gaël Brulé and published by Springer. This book was released on 2019-06-24 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume examines the impact of wealth on quality of life and subjective well-being (SWB). As wealth is related to economic, environmental and social features of societies, this volume serves as an important resource in understanding economic and SWB. It further discusses a variety of experiences and consequences of inequalities of wealth. Through the availability of wealth data in recent international surveys, this volume explores the multiple relations between wealth and SWB. Structured around four main pillars the book presents analysis of the topic at various levels such as theoretical and conceptual, methodological and empirically, ending with a section on distribution and policies.
Book Synopsis Subjective Economic Welfare by : Martin Ravallion
Download or read book Subjective Economic Welfare written by Martin Ravallion and published by World Bank Publications. This book was released on 1999 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: April 1999 - As conventionally measured, current household income relative to a poverty line can only partially explain how Russian adults perceive their economic welfare. Other factors include past incomes, individual incomes, household consumption, current unemployment, risk of unemployment, health status, education, and relative income in the area of residence. Paradoxically, when economists analyze a policy's impact on welfare they typically assume that people are the best judges of their own welfare, yet resist directly asking them if they are better off. Early ideas of utility were explicitly subjective, but modern economists generally ignore people's expressed views about their own welfare. Even using a broad set of conventional socioeconomic data may not reflect well people's subjective perceptions of their poverty. Ravallion and Lokshin examine the determinants of subjective economic welfare in Russia, including its relationship to conventional objective indicators. For data on subjective perceptions, they use survey responses in which respondents rate their level of welfare from poor to rich on a nine-point ladder. As an objective indicator of economic welfare, they use the most common poverty indicator in Russia today, in which household incomes are deflated by household-specific poverty lines. They find that Russian adults with higher family income per equivalent adult are less likely to place themselves on the lowest rungs of the subjective ladder and more likely to put themselves on the upper rungs. But current household income does not explain well self-reported assessments of whether someone is poor or rich. Expanding the set of variables to include incomes at different dates, expenditures, educational attainment, health status, employment, and average income in the area of residence doubles explanatory power. Healthier and better educated adults with jobs perceive themselves to be better off, controlling for income. The unemployed view their welfare as lower, even with full income replacement. Individual income matters independent of per capita household income. Relative income also matters. Living in a richer area lowers perceived economic welfare, controlling for income and other factors. This paper-a product of Poverty and Human Resources, Development Research Group-is part of a larger effort in the group to better understand the relationship between objective and subjective economic welfare. The study was funded by the Bank's Research Support Budget under the research project Policies for Poor Areas (RPO 681-39). The authors may be contacted at [email protected] or [email protected].
Author :Panel on Measuring Subjective Well-Being in a Policy-Relevant Framework Publisher :National Academies Press ISBN 13 :0309294479 Total Pages :148 pages Book Rating :4.3/5 (92 download)
Book Synopsis Subjective Well-Being by : Panel on Measuring Subjective Well-Being in a Policy-Relevant Framework
Download or read book Subjective Well-Being written by Panel on Measuring Subjective Well-Being in a Policy-Relevant Framework and published by National Academies Press. This book was released on 2014-01-01 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: Subjective well-being refers to how people experience and evaluate their lives and specific domains and activities in their lives. This information has already proven valuable to researchers, who have produced insights about the emotional states and experiences of people belonging to different groups, engaged in different activities, at different points in the life course, and involved in different family and community structures. Research has also revealed relationships between people's self-reported, subjectively assessed states and their behavior and decisions. Research on subjective well-being has been ongoing for decades, providing new information about the human condition. During the past decade, interest in the topic among policy makers, national statistical offices, academic researchers, the media, and the public has increased markedly because of its potential for shedding light on the economic, social, and health conditions of populations and for informing policy decisions across these domains. Subjective Well-Being: Measuring Happiness, Suffering, and Other Dimensions of Experience explores the use of this measure in population surveys. This report reviews the current state of research and evaluates methods for the measurement. In this report, a range of potential experienced well-being data applications are cited, from cost-benefit studies of health care delivery to commuting and transportation planning, environmental valuation, and outdoor recreation resource monitoring, and even to assessment of end-of-life treatment options. Subjective Well-Being finds that, whether used to assess the consequence of people's situations and policies that might affect them or to explore determinants of outcomes, contextual and covariate data are needed alongside the subjective well-being measures. This report offers guidance about adopting subjective well-being measures in official government surveys to inform social and economic policies and considers whether research has advanced to a point which warrants the federal government collecting data that allow aspects of the population's subjective well-being to be tracked and associated with changing conditions.
Book Synopsis Measuring Economic Welfare: What and How? by : Mr.Marshall B Reinsdorf
Download or read book Measuring Economic Welfare: What and How? written by Mr.Marshall B Reinsdorf and published by International Monetary Fund. This book was released on 2020-05-18 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: Calls for a more people-focused approach to statistics on economic performance, and concerns about inequality, environmental impacts, and effects of digitalization have put welfare at the top of the measurement agenda. This paper argues that economic welfare is a narrower concept than well-being. The new focus implies a need to prioritize filling data gaps involving the economic welfare indicators of the System of National Accounts 2008 (SNA) and improving their quality, including the quality of the consumption price indexes. Development of distributional indicators of income, consumption, and wealth should also be a priority. Definitions and assumptions can have big effects on these indicators and should be documented. Concerns have also arisen over potentially overlooked welfare growth from the emergence of the digital economy. However, the concern that free online platforms are missing from nominal GDP is incorrect. Also, many of the welfare effects of digitalization require complementary indicators, either because they are conceptually outside the boundary of GDP or impossible to quantify without making uncertain assumptions.
Book Synopsis OECD Guidelines on Measuring Subjective Well-being by : OECD
Download or read book OECD Guidelines on Measuring Subjective Well-being written by OECD and published by OECD Publishing. This book was released on 2013-03-20 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: These Guidelines represent the first attempt to provide international recommendations on collecting, publishing, and analysing subjective well-being data.
Download or read book Beyond GDP written by Marc Fleurbaey and published by Oxford University Press. This book was released on 2013-04-11 with total page 395 pages. Available in PDF, EPUB and Kindle. Book excerpt: In spite of recurrent criticism and an impressive production of alternative indicators by scholars and NGOs, GDP remains the central indicator of countries' success. This book revisits the foundations of indicators of social welfare, and critically examines the four main alternatives to GDP that have been proposed: composite indicators, subjective well-being indexes, capabilities (the underlying philosophy of the Human Development Index), and equivalent incomes. Its provocative thesis is that the problem with GDP is not that it uses a monetary metric but that it focuses on a narrow set of aspects of individual lives. It is actually possible to build an alternative, more comprehensive, monetary indicator that takes income as its first benchmark and adds or subtracts corrections that represent the benefit or cost of non-market aspects of individual lives. Such a measure can respect the values and preferences of the people and give as much weight as they do to the non-market dimensions. A further provocative idea is that, in contrast, most of the currently available alternative indicators, including subjective well-being indexes, are not as respectful of people's values because, like GDP, they are too narrow and give specific weights to the various dimensions of life in a more uniform way, without taking account of the diversity of views on life in the population. The popular attraction that such alternative indicators derive from being non-monetary is therefore based on equivocation. Moreover, it is argued in this book that "greening" GDP and relative indicators is not the proper way to incorporate sustainability concerns. Sustainability involves predicting possible future paths, therefore different indicators than those assessing the current situation. While various indicators have been popular (adjusted net savings, ecological footprint), none of them involves the necessary forecasting effort that a proper evaluation of possible futures requires.
Book Synopsis Wealth and Welfare States by : Irwin Garfinkel
Download or read book Wealth and Welfare States written by Irwin Garfinkel and published by Oxford University Press. This book was released on 2010-01-28 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: Including education has profound consequences, undergirding the case for the productivity of welfare state programs and the explanation for why all rich nations have large welfare states, and identifying US welfare state leadership. From 1968 through 2006, the United States swung right politically and lost its lead in education and opportunity, failed to adopt universal health insurance and experienced the most rapid explosion of health care costs and economic inequality in the rich world. The American welfare state faces large challenges. Restoring its historical lead in education is the most important but requires investing large sums in education, beginning with universal pre-school and in complementary programs that aid children's development.
Book Synopsis Measuring the Subjective Well-Being of Nations by : Alan B. Krueger
Download or read book Measuring the Subjective Well-Being of Nations written by Alan B. Krueger and published by University of Chicago Press. This book was released on 2009-11-15 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Surely everyone wants to know the source of happiness, and indeed, economists and social scientists are increasingly interested in the study and effects of subjective well-being. Putting forward a rigorous method and new data for measuring, comparing, and analyzing the relationship between well-being and the way people spend their time—across countries, demographic groups, and history—this book will help set the agenda of research and policy for decades to come. It does so by introducing a system of National Time Accounting (NTA), which relies on individuals’ own evaluations of their emotional experiences during various uses of time, a distinct departure from subjective measures such as life satisfaction and objective measures such as the Gross Domestic Product. A distinguished group of contributors here summarize the NTA method, provide illustrative findings about well-being based on NTA, and subject the approach to a rigorous conceptual and methodological critique that advances the field. As subjective well-being is topical in economics, psychology, and other social sciences, this book should have cross-disciplinary appeal.
Book Synopsis The Politics of Advanced Capitalism by : Pablo Beramendi
Download or read book The Politics of Advanced Capitalism written by Pablo Beramendi and published by Cambridge University Press. This book was released on 2015-04-23 with total page 473 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book serves as a sequel to two distinguished volumes on capitalism: Continuity and Change in Contemporary Capitalism (Cambridge, 1999) and Order and Conflict in Contemporary Capitalism (1985). Both volumes took stock of major economic challenges advanced industrial democracies faced, as well as the ways political and economic elites dealt with them. However, during the last decades, the structural environment of advanced capitalist democracies has undergone profound changes: sweeping deindustrialization, tertiarization of the employment structure, and demographic developments. This book provides a synthetic view, allowing the reader to grasp the nature of these structural transformations and their consequences in terms of the politics of change, policy outputs, and outcomes. In contrast to functionalist and structuralist approaches, the book advocates and contributes to a 'return of electoral and coalitional politics' to political economy research.
Book Synopsis Encyclopedia of Energy, Natural Resource, and Environmental Economics by :
Download or read book Encyclopedia of Energy, Natural Resource, and Environmental Economics written by and published by Newnes. This book was released on 2013-03-29 with total page 1056 pages. Available in PDF, EPUB and Kindle. Book excerpt: Every decision about energy involves its price and cost. The price of gasoline and the cost of buying from foreign producers; the price of nuclear and hydroelectricity and the costs to our ecosystems; the price of electricity from coal-fired plants and the cost to the atmosphere. Giving life to inventions, lifestyle changes, geopolitical shifts, and things in-between, energy economics is of high interest to Academia, Corporations and Governments. For economists, energy economics is one of three subdisciplines which, taken together, compose an economic approach to the exploitation and preservation of natural resources: energy economics, which focuses on energy-related subjects such as renewable energy, hydropower, nuclear power, and the political economy of energy resource economics, which covers subjects in land and water use, such as mining, fisheries, agriculture, and forests environmental economics, which takes a broader view of natural resources through economic concepts such as risk, valuation, regulation, and distribution Although the three are closely related, they are not often presented as an integrated whole. This Encyclopedia has done just that by unifying these fields into a high-quality and unique overview. The only reference work that codifies the relationships among the three subdisciplines: energy economics, resource economics and environmental economics. Understanding these relationships just became simpler! Nobel Prize Winning Editor-in-Chief (joint recipient 2007 Peace Prize), Jason Shogren, has demonstrated excellent team work again, by coordinating and steering his Editorial Board to produce a cohesive work that guides the user seamlessly through the diverse topics This work contains in equal parts information from and about business, academic, and government perspectives and is intended to serve as a tool for unifying and systematizing research and analysis in business, universities, and government
Book Synopsis A Critique of Welfare Economics by : I. M. D. Little
Download or read book A Critique of Welfare Economics written by I. M. D. Little and published by Oxford University Press. This book was released on 2002-09-12 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Critique of Welfare Economics was first published in 1950. It was concerned with the exposition, criticism, and appreciation of the theory of economic welfare as it had been developed to that date. It was an attempt to clarify what was meant by 'welfare'; to distinguish measurable, verifiable elements of the theory from subjective normative judgements about policies for improving economic well-being; and to establish criteria for determining whether one configuration of the economic system is better or worse than another. Little showed that the welfare theory of the time could be based directly on individual market choices, and that resort to traditional utilitarian concepts was not essential. A Critique of Welfare Economics is now reissued at the same time as Ethics, Economics, and Politics — Little's latest book which explores the overlap between the three disciplines, and discusses the need for political decisions in economic matters, and the principles guiding them. He has added a new retrospective preface to Critique in which he assesses the contribution the book made in the light of subsequent literature in the area.
Book Synopsis Human Well-Being by : M. McGillivray
Download or read book Human Well-Being written by M. McGillivray and published by Springer. This book was released on 2006-11-28 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides insights into how human well-being could be better defined and empirically assessed. It takes stock of and reviews various concepts and measures and provides recommendations for future practice and research.
Book Synopsis Poverty and Social Exclusion in Britain by : Pantazis, Christina
Download or read book Poverty and Social Exclusion in Britain written by Pantazis, Christina and published by Policy Press. This book was released on 2006-01-19 with total page 512 pages. Available in PDF, EPUB and Kindle. Book excerpt: Includes statistical tables and graphs.
Book Synopsis The Macroeconomics of Happiness by : Rafael Di Tella
Download or read book The Macroeconomics of Happiness written by Rafael Di Tella and published by . This book was released on 1997 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Welfare Economics of Public Policy by : Richard E. Just
Download or read book The Welfare Economics of Public Policy written by Richard E. Just and published by Edward Elgar Publishing. This book was released on 2005-01-01 with total page 706 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Welfare Economics of Public Policy is a great book that should be of interest to all economists interested in applied welfare analysis. It is a good reference book for economists studying the effects of public policy. Finally, it should be a useful textbook for students studying economic policy and applied welfare economics. Jean-Paul Chavas, American Journal of Agricultural Economics . . . a very comprehensive overview of the state of the art in welfare economics. It can be used as a teaching book for advanced students as well as a reference volume for researchers. This duality of possible uses is supported by the fact that very complex issues are presented in an easily readable manner. More technical aspects are then outlined in the appendices of the relevant chapters, offering colleagues the option to study formal considerations in more detail. . . a welcome addition to and expression of the knowledge base of agricultural economics. Stefan Mann, Journal of Agricultural Economics I am absolutely delighted that the authors have revised and republished this text. I have used the previous version for years in my graduate environmental economics course; usually I had to share the one copy I have with students and I felt it was a shame that these students did not have the opportunity to purchase the book since every serious environmental economist should have this volume on their shelf. It has been a continuous reference volume for me over the years and I am sure this is true of many others in the discipline. In the field of applied welfare analysis (spanning environmental economics, international trade, agricultural policy, etc.) there is no need for further elaboration when Just, Hueth and Schmitz is referenced. Everyone knows the book that is being referred to: the bible of applied welfare economics. Catherine Kling, Iowa State University, US For the record, I am one of the people who requested that the authors revise and re-issue their textbook. It is an extremely valuable book for applied economists; as with the previous edition, I will use it extensively in two of my courses and consult it frequently in my own research endeavors. Richard Adams, Oregon State University, US The original book is very well known in our profession and is still used in many classes. It will be wonderful to have a revised edition of this classic book. Colin Carter, University of California, Davis, US This outstanding text, a follow-up to the authors award-winning 1982 text, provides a thorough treatment of economic welfare theory and develops a complete theoretical and empirical framework for applied project and policy evaluation. The authors illustrate how this theory can be used to develop policy analysis from both theory and estimation in a variety of areas including: international trade, the economics of technological change, agricultural economics, the economics of information, environmental economics, and the economics of extractive and renewable natural resources. Building on willingness-to-pay (WTP) measures as the foundation for applied welfare economics, the authors develop measures for firms and households where households are viewed as both consumers and owner/sellers of resources. Possibilities are presented for (1) approximating WTP with consumer surplus, (2) measuring WTP exactly subject to errors in existing econometric work, and (3) using duality theory to specify econometric equations consistent with theory. Later chapters cover specific areas of welfare measurement under imperfect competition, uncertainty, incomplete information, externalities, and dynamic considerations. Applications are considered explicitly for policy issues related to information, international trade, the environment, agriculture, and other natural resource issues. The Welfare Economics of Public Policy is ideal for graduate and undergraduate courses in applied welfare economics, public policy, agricultural policy, and environmental economi
Book Synopsis Measuring and Promoting Wellbeing by : Dennis Trewin
Download or read book Measuring and Promoting Wellbeing written by Dennis Trewin and published by ANU E Press. This book was released on 2014-04-09 with total page 797 pages. Available in PDF, EPUB and Kindle. Book excerpt: Australia continues to be at the forefront of international work on measuring and promoting wellbeing, Ian Castles being a significant contributor over the last forty years as an official and academic. This book combines a selection of Castles’ important work with contemporary research from a range of contributors. The material is in four parts: 1. The role of economics in defining and promoting wellbeing 2. Measuring real income and wellbeing 3. Measuring inequality 4. Climate change and the limits to growth. The issues canvassed are both long-standing and current. Does economic growth contribute to wellbeing? How different is income to wellbeing? How do we measure societal wellbeing and take its distribution into account? The book will be of value to all those looking to informed debate on global challenges such as reducing poverty, sustaining the environment and advancing the quality of life, including politicians, commentators, officials and academics.
