Should income be taken for granted as a sole driver of welfare? Bayesian insight on the relevance of non-income drivers of welfare

Abstract: The paper consists of a discussion on the relevance of non-income drivers of welfare. This discussion is based on a subjective Bayesian reasoning, where welfare perceptions are subjectively rational decisions of individuals, who are, as author suggests, the ultimate decision-makers in resp...
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Gespeichert in:

Autor*in:	Wiśniewski Tomasz P. [verfasserIn]

Format:	E-Artikel
Sprache:	Englisch ; Polnisch

Erschienen:	2018

Schlagwörter:	welfare non-income welfare subjectivism of welfare drivers of welfare welfare perception welfare measurement bayesian probability i 31 c 11

Übergeordnetes Werk:	In: International Journal of Management and Economics - Sciendo, 2015, 54(2018), 1, Seite 58-68
Übergeordnetes Werk:	volume:54 ; year:2018 ; number:1 ; pages:58-68

Links:	Link aufrufen Link aufrufen Link aufrufen Journal toc

DOI / URN:	10.2478/ijme-2018-0006

Katalog-ID:	DOAJ048337404

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callnumber-first	H - Social Science
author	Wiśniewski Tomasz P.
spellingShingle	Wiśniewski Tomasz P. misc HF5001-6182 misc welfare misc non-income welfare misc subjectivism of welfare misc drivers of welfare misc welfare perception misc welfare measurement misc bayesian probability misc i 31 misc c 11 misc Business Should income be taken for granted as a sole driver of welfare? Bayesian insight on the relevance of non-income drivers of welfare
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topic_title	HF5001-6182 Should income be taken for granted as a sole driver of welfare? Bayesian insight on the relevance of non-income drivers of welfare welfare non-income welfare subjectivism of welfare drivers of welfare welfare perception welfare measurement bayesian probability i 31 c 11
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title	Should income be taken for granted as a sole driver of welfare? Bayesian insight on the relevance of non-income drivers of welfare
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title_sort	should income be taken for granted as a sole driver of welfare? bayesian insight on the relevance of non-income drivers of welfare
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title_auth	Should income be taken for granted as a sole driver of welfare? Bayesian insight on the relevance of non-income drivers of welfare
abstract	Abstract: The paper consists of a discussion on the relevance of non-income drivers of welfare. This discussion is based on a subjective Bayesian reasoning, where welfare perceptions are subjectively rational decisions of individuals, who are, as author suggests, the ultimate decision-makers in respect of what welfare actually means for them. The objective of the paper is to investigate if income should be taken for granted as a sole driver of welfare. The conclusion is drawn from a methodological investigation of this question in a Bayesian concept of probability with a consideration for correlations among income and non-income drivers of welfare. It suggests that income should not be taken for granted as a sole driver of welfare since the non-income factors, which are not correlated with income, appear to be relevantly affecting individuals’ perceptions of welfare with Bayesian probability of almost 65%. Thereby, the paper is a reaffirmation of a need for further research in the area of welfare measures that might constitute an alternative to income-dominated indicators. Its value emanates from unambiguous answer in favour of the relevance of non-income drivers across welfare perceptions, which, without Bayesian reasoning, could remain unsolved at the point of 50% odds for relevance (irrelevance).
abstractGer	Abstract: The paper consists of a discussion on the relevance of non-income drivers of welfare. This discussion is based on a subjective Bayesian reasoning, where welfare perceptions are subjectively rational decisions of individuals, who are, as author suggests, the ultimate decision-makers in respect of what welfare actually means for them. The objective of the paper is to investigate if income should be taken for granted as a sole driver of welfare. The conclusion is drawn from a methodological investigation of this question in a Bayesian concept of probability with a consideration for correlations among income and non-income drivers of welfare. It suggests that income should not be taken for granted as a sole driver of welfare since the non-income factors, which are not correlated with income, appear to be relevantly affecting individuals’ perceptions of welfare with Bayesian probability of almost 65%. Thereby, the paper is a reaffirmation of a need for further research in the area of welfare measures that might constitute an alternative to income-dominated indicators. Its value emanates from unambiguous answer in favour of the relevance of non-income drivers across welfare perceptions, which, without Bayesian reasoning, could remain unsolved at the point of 50% odds for relevance (irrelevance).
abstract_unstemmed	Abstract: The paper consists of a discussion on the relevance of non-income drivers of welfare. This discussion is based on a subjective Bayesian reasoning, where welfare perceptions are subjectively rational decisions of individuals, who are, as author suggests, the ultimate decision-makers in respect of what welfare actually means for them. The objective of the paper is to investigate if income should be taken for granted as a sole driver of welfare. The conclusion is drawn from a methodological investigation of this question in a Bayesian concept of probability with a consideration for correlations among income and non-income drivers of welfare. It suggests that income should not be taken for granted as a sole driver of welfare since the non-income factors, which are not correlated with income, appear to be relevantly affecting individuals’ perceptions of welfare with Bayesian probability of almost 65%. Thereby, the paper is a reaffirmation of a need for further research in the area of welfare measures that might constitute an alternative to income-dominated indicators. Its value emanates from unambiguous answer in favour of the relevance of non-income drivers across welfare perceptions, which, without Bayesian reasoning, could remain unsolved at the point of 50% odds for relevance (irrelevance).
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title_short	Should income be taken for granted as a sole driver of welfare? Bayesian insight on the relevance of non-income drivers of welfare
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Should income be taken for granted as a sole driver of welfare? Bayesian insight on the relevance of non-income drivers of welfare

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