In this paper we develop theoretical criteria and econometric methods to rank policy interventions in terms of welfare when individuals are loss-averse. The new criterion for "loss aversion-sensitive dominance" defines a weak partial ordering of the distributions of policy-induced gains and...

We provide evidence on the least biased ways to identify causal effects in situations where there are multiple outcomes that all depend on the same endogenous regressor and a reasonable but potentially contaminated instrumental variable that is available. Simulations provide suggestive evidence...

The 2007-9 period saw an unprecedented crisis emerge in global financial markets with the collapse of several large western financial institutions, and the nearest moment of systemic crisis yet witnessed in the globalized financial system. The crisis has thus provoked a significant questioning...

The economics of obesity literature implicitly assumes that measured anthropometrics are error-free and they are often treated as a gold standard when compared to self-reported data. We use factor mixture models to analyse and characterize measurement error in both self-reported and measured...

The economics of obesity literature implicitly assumes that measured anthropometrics are error‐free and they are often treated as a gold standard when compared to self‐reported data. We use factor mixture models to analyse and characterize measurement error in both self‐reported and...

Individual heterogeneity plays a key role in explaining variation in self-reported well-being and, in particular, health satisfaction. It is hypothesised that the influence of this heterogeneity varies over levels of health and increases over the life-cycle. These hypotheses are tested with data...

Measurement of inequity in health care delivery has focused on the extent to which health care utilisation is or is not distributed according to need, irrespective of income. Studies using cross-sectional data have proposed various ways of measuring and standardizing for need, but inevitably...

Recent advances in social science surveys include collection of biological samples. Although biomarkers offer a large potential for social science and economic research, they impose a number of statistical challenges, often being distributed asymmetrically with heavy tails. Using data from the...

We use a set of biomarkers to measure inequality of opportunity (IOp) in health in the UK. Applying a direct ex ante IOp approach, we find that inequalities in health attributed to circumstances account for a non-trivial part of the total health variation. For example, observed circumstances...

This paper analyses the relationship between health and socioeconomic status accounting for the role of breadth and persistence of multiple deprivation. Adopting a holistic approach to multidimensional deprivation, we construct measures of absolute and relative deprivation and use these measures...