Conversion Efficiency as a Complementing Measure of Welfare in Capability Space
Martin Binder and
Tom Broekel ()
MPRA Paper from University Library of Munich, Germany
Abstract:
In the capability literature, studies on the empirical measurement in the functionings space are abundant and a few studies even measure capability to function. We suggest adopting a third measure of welfare relevant to economists, namely the "conversion efficiency" measuring the efficiency with which individuals convert their resources into achieved functioning. We use a nonparametric efficiency procedure and construct such a measure for a basket of basic functioning achievement, using data from the British Household Panel Survey (BHPS).
Keywords: conversion efficiency; welfare measurement; robust nonparametric efficiency analysis; functioning production (search for similar items in EconPapers)
JEL-codes: I12 I31 I32 R15 (search for similar items in EconPapers)
Date: 2008-03-09
New Economics Papers: this item is included in nep-hap
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:7583
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