Implementing the capability approach with respect for individual valuations: an illustration with Colombian data
Koen Decancq (),
Erik Schokkaert and
Blanca Zuluaga ()
Icesi Economics Working Papers from Universidad Icesi
In many applications of the capability approach it is necessary to rank individuals with respect to their well-being. This raises the dicult question of how to select the weights to be attached to the relevant functionings or capabilities. We explore the possibility to use individual valuations to set these weights and we propose the equivalent income measure as a specic well-being measure which is consistent with these individual valuations. We discuss its implementation and compare the results to four alternative well-being measures based on Colombian data for 2008: income, subjective well-being, the ocial SISBEN index, and the Colombian Multidimensional Poverty Index (CMPI). We nd that there is remarkable little overlap between the dierent measures. Dierent well-being measures identify dierent people as worst-o. This nding highlights the empirical relevance of the selection of the well-being measure when implementing the capability approach.
Keywords: Capability Approach; Preferences; Equivalent Income; Colombia (search for similar items in EconPapers)
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Working Paper: Implementing the Capability Approach with Respect for Individual Valuations: An Illustration with Colombian Data (2016)
Working Paper: Implementing the capability approach with respect for individual valuations: an illustration with Colombian data (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:col:000495:014571
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