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Binder, Martin
Year of Publication: 
Series/Report no.: 
Papers on Economics and Evolution 1302
As a result of the disenchantment with traditional income-based measures of welfare, alternative welfare measures have gained increasing attention in recent years. Two of the most prominent measures of well-being come from subjective well-being research and the (objective) capability approach. Despite their promising features, both approaches have a number of weaknesses when considered on their own. This paper sets out to examine to what extent a fusion between both approaches can overcome the weaknesses of both individual approaches. It uses features of the capability framework to enrich what is basically a subjective well-being perspective. Key drawbacks of normative subjective well-being views can be overcome by focussing welfare assessments on Subjective Well-being Capabilities (SWC), i.e. focussing on the substantive opportunities of individuals to pursue and achieve happiness.
subjective well-being
capability approach
normative economics
Document Type: 
Working Paper

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