Does the choice of well-being measure matter empirically? An illustration with German data
"We discuss and compare five measures of individual well-being, namely income, an objective composite well-being index, a measure of subjective well-being, equivalent income, and a well-being measure based on the von Neumann-Morgenstern utilities of the individuals. After examining the informat...
| Institution: | ETUI-European Trade Union Institute |
|---|---|
| Format: | TEXT |
| Language: | English |
| Published: |
Bonn
2014
IZA |
| Subjects: | |
| Online Access: | https://www.labourline.org/KENTIKA-19116109124919343819-Does-the-choice-of-well-being-.htm |
| _version_ | 1771659900394405890 |
|---|---|
| collection | Library items |
| description | "We discuss and compare five measures of individual well-being, namely income, an objective composite well-being index, a measure of subjective well-being, equivalent income, and a well-being measure based on the von Neumann-Morgenstern utilities of the individuals. After examining the information requirements of these measures, we illustrate their implementation using data from the German Socio-Economic Panel (SOEP) for 2010. We find sizeable differences in the characteristics of the individuals identified as worst off according to the different well-being measures. Less than 1% of the individuals belong to the bottom decile according to all five measures. Moreover, the measures lead to considerably different well-being rankings of the individuals. These findings highlight the importance of the choice of well-being measure for policy making." |
| format | TEXT |
| geographic | Germany |
| id | 19116109124919343819_050ec2a1d337430aab4d02fba0ee27ab |
| institution | ETUI-European Trade Union Institute |
| is_hierarchy_id | 19116109124919343819_050ec2a1d337430aab4d02fba0ee27ab |
| is_hierarchy_title | Does the choice of well-being measure matter empirically? An illustration with German data |
| language | English |
| physical | 41 p. Digital |
| publishDate | 2014 |
| publisher | Bonn IZA |
| spellingShingle | income distribution quality of life well being Does the choice of well-being measure matter empirically? An illustration with German data |
| title | Does the choice of well-being measure matter empirically? An illustration with German data |
| topic | income distribution quality of life well being |
| url | https://www.labourline.org/KENTIKA-19116109124919343819-Does-the-choice-of-well-being-.htm |