Widely used measures of subjective welfare ask survey respondents to rate their economic welfare, satisfaction with life, or happiness on an ordinal scale. These measures have found innumerable applications in the psychological and social sciences and have recently become popular in economics. Two important applications of subjective welfare data illustrate why this matters. The first is their application in the interpersonal comparisons of welfare required for poverty measurement.
机构:
School of Public Affairs and Administration, Western Michigan University, Kalamazoo, MI 49008School of Public Affairs and Administration, Western Michigan University, Kalamazoo, MI 49008