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What matters for well-being? An information theory approach
When an individual is asked how satisfied they are with their life overall, they make the following judgements: Which aspects of life are most important to me? How satisfied am I with these? How do these When an individual is asked how satisfied they are with their life overall, they make the following judgements: Which aspects of life are most important to me? How satisfied am I with these? How do these affect my overall satisfaction? These considerations and calculations are heterogeneous and non-public. The final report is routinely used for national happiness indicators, requiring the assumption of inter-personal comparability.
This paper is a work in progress that interrogates these satisfaction reports: I use maximum entropy to estimate, at an individual level, the weightings of a person’s domains of life in their overall life satisfaction reports. I can then ask: how do these weightings estimates help us better understand patterns of changing preferences within individuals over time, and preference differences between households.
Date:
27 November 2018, 12:00
Venue:
Manor Road Building, Manor Road OX1 3UQ
Venue Details:
Seminar Room D
Speaker:
Jessica Milligan (University of Oxford)
Organising department:
Department of Economics
Part of:
Applied Microeconomics Workshop
Booking required?:
Not required
Audience:
Members of the University only
Editor:
Melis Clark
