File(s) under permanent embargo
Measuring social welfare: application of social choice theory
This paper questions conventional approaches to measuring social welfare through gross domestic product (GDP). This paper is divided into two parts. The first part adopts a systems approach to development and incorporates this into the theory of social choice. The second part operationalises this approach through the development of a cost-benefit adjusted gross domestic product (CBAGDP) social welfare function, which overcomes certain limitations of this traditional measure of development. The CBAGDP is then used to estimate welfare in Thailand. This approach is justified because of its normative values and its plausible results.
History
Journal
Journal of socio-economicsVolume
32Issue
1Pagination
1 - 15Publisher
Elsevier BV, North-HollandLocation
NetherlandsPublisher DOI
ISSN
1053-5357eISSN
1879-1239Language
engNotes
Available online 28 February 2003Publication classification
C1.1 Refereed article in a scholarly journalCopyright notice
Elsevier Science Inc. 2003Usage metrics
Categories
No categories selectedLicence
Exports
RefWorks
BibTeX
Ref. manager
Endnote
DataCite
NLM
DC