Composite Measure of Wellbeing

The composite measure of wellbeing is a linear combination of the 9 variables created through a latent variable model. In the Bayesian implementation of the latent variable model, missing data is handled by the model. This provides estimates even for countries for which there is very little information.

Composite Measure of Wellbeing

The composite measure of wellbeing is a linear combination of the 9 variables created through a latent variable model. In the Bayesian implementation of the latent variable model, missing data is handled by the model. This provides estimates even for countries for which there is very little information.