Preprints, Working Papers, ... (Working Paper) Year : 2024

Preference elicitation methods and equivalent income: an overview

Abstract

The equivalent income is a preference-based, interpersonally comparable measure of well-being.

Although its theoretical foundations are well-established, empirical applications remain limited, primarily due to the detailed data requirements on individuals' preferences across various wellbeing dimensions. This paper reviews the literature on preference elicitation methods with a focus on estimating equivalent income. We examine several survey-based methods, including contingent valuation, multi-attribute choice or rating experiments, and life satisfaction regressions. The review highlights the advantages and limitations of each method, emphasizing the considerable scope for methodological improvements and innovations.

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Dates and versions

halshs-04840652 , version 1 (16-12-2024)

Identifiers

  • HAL Id : halshs-04840652 , version 1

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Shaun da Costa, Koen Decancq, Marc Fleurbaey, Erik Schokkaert. Preference elicitation methods and equivalent income: an overview. 2024. ⟨halshs-04840652⟩
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