Shaw, R., Dolan, P., Tsuchiya, A., Smith, P. and Williams, A. (2002) Determining the parameters in a social welfare function using stated preference data: an application to health. Discussion Paper. Applied Economics
One way in which economists might determine how best to balance the competing objectives of efficiency and equity is to specify a social welfare function (SWF). This paper looks at how the stated preferences of a sample of the general public can be used to estimate the shape of the SWF in the domain of health benefits. The results suggest that it is possible to determine the parameters in a social welfare function from stated preference data, but show that people are sensitive to what inequalities exist and to the groups across which those inequalities exist.
|Keywords:||social welfare function,preference elicitation,equity-efficiency trade-off|
|Institution:||The University of York|
|Academic Units:||The University of York > English and Related Literature (York)|
|Depositing User:||ScHARR / HEDS (Sheffield)|
|Date Deposited:||14 Jul 2010 17:58|
|Last Modified:||28 Jul 2016 09:11|