Welfare rankings from multivariate data, a nonparametric approach.
Economic and social welfare is inherently multidimensional. However, choosing a measure which combines several indicators is difficult and may have unintendend and undesirable effects on the incentives of policy makers. We develop a nonparametric empirical method for deriving welfare rankings for a...
| Main Authors: | , , |
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| Format: | Journal article |
| Language: | English |
| Published: |
Elsevier
2011
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| Summary: | Economic and social welfare is inherently multidimensional. However, choosing a measure which combines several indicators is difficult and may have unintendend and undesirable effects on the incentives of policy makers. We develop a nonparametric empirical method for deriving welfare rankings for a social planner based on data envelopment, which avoids the need to specify a weighting scheme. We apply this method to data on Human Development. |
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