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Implementing the capability approach with respect for individual valuations: an illustration with Colombian data

Koen Decancq (), Erik Schokkaert and Blanca Zuluaga ()

No 543498, Working Papers of Department of Economics, Leuven from KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven

Abstract: In many applications of the capability approach it is necessary to rank individuals with respect to their well-being. This raises the diââ¬âcult question of how to select the weights to be attached to the relevant functionings or capabilities. We explore the possibility of using individual valuations to set these weights and we propose the equivalent income measure as a specific well-being measure that 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 official SISBEN index, and the Colombian Multidimensional Poverty Index (CMPI). We find that there is remarkably little overlap between the different measures. The different well-being measures identify different individuals as worst-off. This finding highlights the empirical relevance of the selection of the well-being measure when implementing the capability approach.

New Economics Papers: this item is included in nep-hap and nep-lam
Date: 2016-06
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Published in Discussion paper series, DPS16.09 pages:1-32

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Working Paper: Implementing the capability approach with respect for individual valuations: an illustration with Colombian data (2016) Downloads
Working Paper: Implementing the Capability Approach with Respect for Individual Valuations: An Illustration with Colombian Data (2016) Downloads
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