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Surveys that are designed to measure subjective states (e.g., happiness) typically generate ordinal data. A fundamental problem is that methods used to analyse ordinal data (e.g., ordered probit) rely on strong and often unjustified distributional assumptions. In this paper, we propose using...
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. A recent study applied the well-being valuation approach to calculate such a monetary value using a compensating income … of income and the health state dependence of consumption utility. The estimated monetary values range from e20 …
Persistent link: https://www.econbiz.de/10012264228
Surveys are an important tool in economics and in the social sciences more broadly. However, methods used to analyse ordinal survey data (e.g., ordered probit) rely on strong and often unjustified distributional assumptions. In this paper, we propose using survey response times to solve that...
Persistent link: https://www.econbiz.de/10012390057
Econometric analyses in the happiness literature typically use subjective well-being (SWB) data to compare the mean of observed or latent happiness across samples. Recent critiques show that com-paring the mean of ordinal data is only valid under strong assumptions that are usually rejected by...
Persistent link: https://www.econbiz.de/10011979193
of return that takes into account tuition, income taxes and forms of uncertainty. We also contrast estimates based on a … computing distributions of returns ex ante and ex post . We review the literature on instrumental variable estimation. The link …
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