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This paper studies a famous unsolved puzzle in quantitative social science. Why do some nations report such high levels of mental well-being? Denmark, for instance, regularly tops the league table of rich countries' happiness; Britain and the US enter further down; some nations do unexpectedly...
Persistent link: https://www.econbiz.de/10013000795
Banks should evaluate whether a borrower is likely to default. I apply several techniques in the extensive mathematical literature of stochastic optimal control/dynamic programming to derive an optimal debt in an environment where there are risks on both the asset and liabilities sides. The...
Persistent link: https://www.econbiz.de/10013316580
novel German data on self-reported comparison intensity and perceived relative income for seven reference groups. We find … negative correlations between comparison intensity and SWB for colleagues, people in the same occupation and friends, but not …
Persistent link: https://www.econbiz.de/10013315521
This paper examines the measurement of social welfare, poverty and inequality taking into account reference …-dependence, loss aversion and diminishing sensitivity — aspects emphasized in Prospect Theory — to social welfare measurement. We … differences between standard poverty and inequality measures based on observed income and measures that are calculated based on …
Persistent link: https://www.econbiz.de/10013086978
Most equivalence scales which are applied in research on poverty and inequality do not depend on income, although there … differing assessments of poverty and inequality under quite general conditions. German microdata will be used to demonstrate and …
Persistent link: https://www.econbiz.de/10013011717
fairness principles, namely equality of opportunity and freedom from poverty, into a joint measure of unfair inequality. Two … inequality. Second, average unfair inequality doubles when complementing the ideal of an equal opportunity society with poverty …
Persistent link: https://www.econbiz.de/10012912680
Since the late 1970s, the price indices underlying the poverty lines in India have been updated using aggregate indices … consumption survey data. We propose an alternative approach that identifies poverty from consumer behaviour, based on the notion … higher levels of poverty in eastern India, and generally, smaller reductions in poverty from 2005 to 2010. Our poverty …
Persistent link: https://www.econbiz.de/10013086396
This paper does three things. First, based on a limited number of theoretically established dimensions, it proposes a new de facto indicator for the rule of law. It is the first such indicator to take the quality of legal norms explicitly into account. Second, using this indicator we shed new...
Persistent link: https://www.econbiz.de/10013000219
very detailed measurement of democracy for 188 countries between 1981 and 2011. Application of the SVMDI highlights a …
Persistent link: https://www.econbiz.de/10013001148
This comment provides a reply to Prof. Feige's paper with the title “Reflections on the Meaning and Measurement of …
Persistent link: https://www.econbiz.de/10012994281