Vienna Institute of Demography (Ed.)


Vienna Yearbook of Population Research 2021

Demographic Aspects of Human Wellbeing

ISSN 1728-4414
Print Edition
ISSN 1728-5305
Online Edition
ISBN 978-3-7001-8707-3
Print Edition
ISBN 978-3-7001-8784-4
Online Edition
doi:10.1553/populationyearbook2021
Vienna Yearbook of Population Research 2021 
2020, ONLINE FIRST 
Open access


Debate

EU and UK targets for healthy life expectancy – are they achievable?
Carol Jagger

Demography and well-being
Andrew E. Clark

Verlag der Österreichischen Akademie der Wissenschaften
Austrian Academy of Sciences Press
A-1011 Wien, Dr. Ignaz Seipel-Platz 2
Tel. +43-1-515 81/DW 3402-3406, Fax +43-1-515 81/DW 3400
https://verlag.oeaw.ac.at, e-mail: verlag@oeaw.ac.at

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Vienna Yearbook of Population Research 2021
ISSN 1728-4414
Print Edition
ISSN 1728-5305
Online Edition
ISBN 978-3-7001-8707-3
Print Edition
ISBN 978-3-7001-8784-4
Online Edition



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Verlag der Österreichischen Akademie der Wissenschaften
Austrian Academy of Sciences Press
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Tel. +43-1-515 81/DW 3402-3406, Fax +43-1-515 81/DW 3400
https://verlag.oeaw.ac.at, e-mail: bestellung.verlag@oeaw.ac.at
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doi:10.1553/populationyearbook2021.deb04


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Thema: journals
Vienna Institute of Demography (Ed.)


Vienna Yearbook of Population Research 2021

Demographic Aspects of Human Wellbeing

ISSN 1728-4414
Print Edition
ISSN 1728-5305
Online Edition
ISBN 978-3-7001-8707-3
Print Edition
ISBN 978-3-7001-8784-4
Online Edition
doi:10.1553/populationyearbook2021
Vienna Yearbook of Population Research 2021 
2020, ONLINE FIRST 
Open access


Paul Frijters
PDF Icon  WELLBYs, cost-benefit analyses and the Easterlin Discount ()

doi:10.1553/populationyearbook2021.deb04

Verlag der Österreichischen Akademie der Wissenschaften

Abstract:
The current practise of cost-benefit analysis inWestern countries consists of a collectionof various incompatible ideas and methodologies to obtain replicable numbersfor the costs and benefits of major public spending plans. This paper describesthe main elements of the dominant methodology, which combines consumer andproducer surplus, price-taking, government-inputs-as-outputs, hedonic pricing ofexternalities, and the issue-specific use of partial or general equilibrium thinking.The paper then discusses how that methodology can be augmented and partiallyreplaced by looking at how prospective policies would change the total number ofWELLBYs (life satisfaction-adjusted years of life) of the population. The abilityof the WELLBY methodology to address complex externalities is illustrated by theEasterlin Discount, which is a proposed reduction factor of 75% on all estimates ofprivate consumption benefits to offset the envy caused in others.

Keywords:  cost-effectiveness; wellbeing; consumer surplus; Easterlin Discount; public advocacy
Published Online:  2021/03/09 14:11:35
Object Identifier:  0xc1aa5576 0x003c4646

Debate

EU and UK targets for healthy life expectancy – are they achievable?
Carol Jagger

Demography and well-being
Andrew E. Clark



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Verlag der Österreichischen Akademie der Wissenschaften
Austrian Academy of Sciences Press
A-1011 Wien, Dr. Ignaz Seipel-Platz 2
Tel. +43-1-515 81/DW 3402-3406, Fax +43-1-515 81/DW 3400
https://verlag.oeaw.ac.at, e-mail: verlag@oeaw.ac.at