Measuring Welfare: Latent Variable Models for Happiness and Capabilities in the Presence of Unobservable Heterogeneity

@inproceedings{Anand2011MeasuringWL,
  title={Measuring Welfare: Latent Variable Models for Happiness and Capabilities in the Presence of Unobservable Heterogeneity},
  author={Paul Anand and Jaya Krishnakumar and Ngoc Bich Tran},
  year={2011}
}
The paper contributes to the operationalisation of the capabilities approach to welfare economics by developing and analyzing data on the freedoms of adults in Argentina. Specifically, it reports on the development and delivery of a survey instrument for measuring capabilities, calculates for each respondent a Nehring–Puppe type index of capabilities and examines the distribution of index scores. The main analytic part of the paper then goes on to develop a generalized linear latent and mixed… Expand
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TLDR
A structural equation econometric model is proposed that accounts for the interdependence among the latent dimension and other observed endogenous factors and includes causal exogenous variables affecting the latent dimensions and their indicators and uses the empirical model to derive capability indicators in different dimensions. Expand
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