Venice, Italy: FEEM seminar on “Multidimensional welfare rankings under weight imprecision”
Social well-being is intrinsically multidimensional. Welfare indices attempting to reduce this complexity to a unique scalar measure abound in many areas of economics and public policy. Ranking alternatives based on such measures depends, sometimes critically, on how the different dimensions of welfare are weighted. In this seminar, a theoretical framework is presented that yields a set of consensus rankings in the presence of such weight imprecision.