WHAT IF WE VOTED ON THE WEIGHTS OF A MULTIDIMENSIONAL WELL-BEING INDEX? AN ILLUSTRATION WITH FLEMISH DATA

Koen Decancq, Luc Van Ootegem and Elsy Verhofstadt

Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium from Ghent University, Faculty of Economics and Business Administration

Abstract: There is a widespread consensus that well-being is a multidimensional notion. To quantify multidimensional well-being, information on the relative weights of the different dimensions is essential. There is, however, considerable disagreement in the literature on the most appropriate weighting scheme to be used. Making use of a recent data set for Flanders, we compare various methods to select a weighting scheme. The results are indeed different such that, for instance, a policymaker would identify different groups of individuals as being worst-off depending on the scheme that is chosen. In order to compare and evaluate the weighting schemes, we simulate the support each scheme would get in a hypothetical voting procedure. Weighting schemes that obtain a higher support reflect better the priorities of the respondents themselves and suffer less from the problem of paternalism. Quite remarkably, the popular equal weighting scheme is found to be the least supported in our data set.

Keywords: Multidimensional well-being; weighting schemes; equal weights; voting. (search for similar items in EconPapers)
JEL-codes: C43 I31 O1 (search for similar items in EconPapers)
Pages: 14 pages
Date: 2011-11
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
http://wps-feb.ugent.be/Papers/wp_11_762.pdf (application/pdf)

Related works:
Journal Article: What If We Voted on the Weights of a Multidimensional Well‐Being Index? An Illustration with Flemish Data (2013)
Working Paper: What if we voted on the weights of a multidimensional well-being index? An illustration with Flemish data (2011)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:rug:rugwps:11/762

Access Statistics for this paper

More papers in Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium from Ghent University, Faculty of Economics and Business Administration Contact information at EDIRC.
Bibliographic data for series maintained by Nathalie Verhaeghe ().