Title
Copula-based measurement of dependence between dimensions of well-being
Author
Faculty/Department
Faculty of Social Sciences. Sociology
Publication type
article
Publication
Oxford ,
Subject
Economics
Source (journal)
Oxford economic papers. - Oxford
Volume/pages
66(2014) :3 , p. 681-701
ISSN
0030-7653
ISI
000337922300003
Carrier
E
Target language
English (eng)
Full text (Publishers DOI)
Affiliation
University of Antwerp
Abstract
Most multidimensional measures of social welfare first aggregate the outcomes across the individuals dimension by dimension and then, in the second step, aggregate the resulting summary statistics across the dimensions. This approach is blind to the dependence between dimensions of well-being, that is, the extent to which the positions of the individuals in the different dimensions of well-being are aligned. To quantify what lies behind this blind spot, this article introduces a copula-based incomplete ordering of dependence and two classes of consistent dependence measures. The importance of allowing for dependence in rankings of social welfare is illustrated with a Russian data set between 1995 and 2005.
E-info
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