Measuring Social Welfare
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| Author | : Matthew D. Adler |
| Publisher | : |
| Total Pages | : 337 |
| Release | : 2019 |
| Genre | : Business & Economics |
| ISBN | : 0190643021 |
Disputes over government policies rage in a number of areas. From taxation to climate change, from public finance to risk regulation, and from health care to infrastructure planning, advocates debate how policies affect multiple dimensions of individual well-being, how these effects balance against each other, and how trade-offs between overall well-being and inequality should be resolved. How to measure and balance well-being gains and losses is a vexed issue. Matthew D. Adler advances the debate by introducing the social welfare function (SWF) framework and demonstrating how it can be used as a powerful tool for evaluating governmental policies. The framework originates in welfare economics and in philosophical scholarship regarding individual well-being, ethics, and distributive justice. It has three core components: a well-being measure, which translates each of the possible policy outcomes into an array of interpersonally comparable well-being numbers, quantifying how well off each person in the population would be in that outcome; a rule for ranking outcomes thus described; and an uncertainty module, which orders policies understood as probability distributions over outcomes. The SWF framework is a significant improvement compared to cost-benefit analysis (CBA), which quantifies policy impacts in dollars, is thereby biased towards the rich, and is insensitive to the distribution of these monetized impacts. The SWF framework, by contrast, uses an unbiased measure of well-being and allows the policymaker to consider both efficiency (total well-being) and equity (the distribution of well-being). Because the SWF framework is a fully generic methodology for policy assessment, Adler also discusses how it can be implemented to inform government policies. He illustrates it through a detailed case study of risk regulation, contrasting the implications of results of SWF and CBA. This book provides an accessible, yet rigorous overview of the SWF approach that can inform policy-makers and students.
| Author | : Nanak Kakwani |
| Publisher | : Palgrave Macmillan |
| Total Pages | : 0 |
| Release | : 2016-07-19 |
| Genre | : Business & Economics |
| ISBN | : 9781137583246 |
Nanak Kakwani and Hyun Hwa Son make use of social welfare functions to derive indicators of development relevant to specific social objectives, such as poverty- and inequality-reduction. Arguing that the measurement of development cannot be value-free, the authors assert that if indicators of development are to have policy relevance, they must be assessed on the basis of the social objectives in question. This study develops indicators that are sensitive to both the level and the distribution of individuals’ capabilities. The idea of the social welfare function, defined in income space, is extended to the concept of the social well-being function, defined in capability space. Through empirical analysis from selected developing countries, with a particular focus on Brazil, the authors shape techniques appropriate to the analysis of development in different dimensions. The focus of this evidence-based policy analysis is to evaluate alternative policies affecting the capacities of people to enjoy a better life.
| Author | : Marc Fleurbaey |
| Publisher | : Oxford University Press |
| Total Pages | : 395 |
| Release | : 2013-04-11 |
| Genre | : Business & Economics |
| ISBN | : 0199346917 |
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.
| Author | : Richard E. Just |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 706 |
| Release | : 2005-01-01 |
| Genre | : Political Science |
| ISBN | : 1845421574 |
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
| Author | : John Brazier |
| Publisher | : Oxford University Press |
| Total Pages | : 373 |
| Release | : 2017 |
| Genre | : Business & Economics |
| ISBN | : 0198725922 |
There are not enough resources in health care systems around the world to fund all technically feasible and potentially beneficial health care interventions. Difficult choices have to be made, and economic evaluation offers a systematic and transparent process for informing such choices. A key component of economic evaluation is how to value the benefits of health care in a way that permits comparison between health care interventions, such as through costs per quality-adjusted life years (QALY). Measuring and Valuing Health Benefits for Economic Evaluation examines the measurement and valuation of health benefits, reviews the explosion of theoretical and empirical work in the field, and explores an area of research that continues to be a major source of debate. It addresses the key questions in the field including: the definition of health, the techniques of valuation, who should provide the values, techniques for modelling health state values, the appropriateness of tools in children and vulnerable groups, cross cultural issues, and the problem of choosing the right instrument. This new edition contains updated empirical examples and practical applications, which help to clarify the readers understanding of real world contexts. It features a glossary containing the common terms used by practitioners, and has been updated to cover new measures of health and wellbeing, such as ICECAP, ASCOT and AQOL. It takes into account new research into the social weighting of a QALY, the rising use of ordinal valuation techniques, use of the internet to collect data, and the use of health state utility values in cost effectiveness models. This is an ideal resource for anyone wishing to gain a specialised understanding of health benefit measurement in economic evaluation, especially those working in the fields of health economics, public sector economics, pharmacoeconomics, health services research, public health, and quality of life research.
| Author | : Amartya Sen |
| Publisher | : Harvard University Press |
| Total Pages | : 480 |
| Release | : 1997 |
| Genre | : Business & Economics |
| ISBN | : 9780674127784 |
"Choice, Welfare and Measurement contains many of Amartya Sen's most important contributions to economic analysis and methods, including papers on individual and social choice, preference and rationality, and aggregation and economic measurement. A substantial introductory essay interrelates his diverse concerns, and also analyzes discussions generated by the original papers, focusing on the underlying issues."--P. [4] of cover.
| Author | : R. W. Blundell |
| Publisher | : Cambridge University Press |
| Total Pages | : 295 |
| Release | : 1994-09-15 |
| Genre | : Business & Economics |
| ISBN | : 0521451957 |
The measurement of household welfare is one of the most compelling yet demanding areas in economics. To place the analysis of inequality and poverty within an economic framework where individuals are making decisions about current and lifetime incomes and expenditures is a difficult task, made all the more challenging by the complexity of the decision-making process in which households are involved and the variety of constraints they face. This 1994 book examines the conceptual and practical difficulties of making inferences from observed behaviour. It addresses the problems of making comparisons across a range of very different households and discusses how data for such comparisons should be collected. The contributions, from experts from Europe, North America and Australia, have the unifying theme that there is a strong relationship between theoretical concepts from microeconomics and the appropriate use of micro data in evaluating household welfare.
| Author | : Per-Olov Johansson |
| Publisher | : Cambridge University Press |
| Total Pages | : 194 |
| Release | : 1991-08-22 |
| Genre | : Business & Economics |
| ISBN | : 9780521356954 |
This is the first book in welfare economics to be primarily intended for undergraduates and non-specialists. Concepts such as Pareto optimality in a market economy, the compensation criterion, and the social welfare function are explored in detail. Market failures are analysed by using different ways of measuring welfare changes. The book also examines public choice, and the issues of provision of public goods, median voter equilibrium, government failures, efficient and optimal taxation, and intergenerational equity. The three final chapters are devoted to applied welfare economics: methods for revealing people's preferences, cost-benefit analysis, and project evaluation in a risky world. The book is intended for introductory and intermediate courses in welfare economics, microeconomics, and public economics. It will also be suitable for courses in health economics, environmental economics, and cost-benefit analysis, as well as those undertaking project evaluations in government agencies and private firms.
| Author | : Daniel T. Slesnick |
| Publisher | : Cambridge University Press |
| Total Pages | : 246 |
| Release | : 2001 |
| Genre | : Business & Economics |
| ISBN | : 0521497205 |
Designed to be accessible to noneconomists, it relegates technical details to appendixes."--BOOK JACKET.
| Author | : Sheldon Cohen |
| Publisher | : Oxford University Press |
| Total Pages | : 374 |
| Release | : 2000-10-19 |
| Genre | : Social Science |
| ISBN | : 9780198029229 |
Surgery and pharmaceuticals are not the only effective procedures we have to improve our health. The natural human tendency to care for fellow humans, to support them with social networks, has proven to be a powerful treatment as well. As a result, the areas of application for social support intervention have expanded dramatically during the past 20 years. As these areas have expanded, so too has the literature on the theory and measurement of social support. Yet, the literature has focussed on very particular areas. Investigators in the social sciences have mainly focused on the protection that social support confers in the context of stressful life events and transitions, whereas studies in the health sciences have concentrated on the effects of social networks and supports on population mortality and morbidity. Although no single theoretical framework has been widely accepted, there is consensus that both the psychological sense of support and actual expressions of support play critical roles in maintaining health and well being. This book is a state-of-the-art resource for the selection and development of strategies for social support assessment and intervention. Designed for use by behavioral and medical scientists conducting studies of physical illness, psychological adjustment, and psychiatric illness in human populations, this volume presents a broad conceptual framework addressing the role of social support in mental and physical health. The book is divided into four sections. The first provides some historical context as well as a conceptual overview of how social support might influence mental and physical health. The second discusses techniques for measuring social networks and support, and the third addresses the design of different types of support interventions. The final section presents some general comments on the volume and its implications for social support research and intervention. This resource is meant to aid researchers in understanding the conceptual criteria on which measurement and intervention decisions should be made when studying the relations between social support and health. Furthermore, the information provided on both measurement and intervention will be valuable to practitioners interested in designing and evaluating prevention and treatment initiatives. Sponsored by the Fetzer Institute as a follow up to their successful 1995 publication, Measuring Stress, this book will provide the most up to date research on the effects of social support interventions on physical and mental health.
