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Author: Isaac Parkes

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CEP policy analysis
How do you measure a child's wellbeing? (policy brief)

A central question for policy evaluation in the UK is how to measure wellbeing. To address this, wellbeing years (WELLBYs) were developed at the London School of Economics to assign social and economic value to changes i...Read more...

Aadya Bahl and Isaac Parkes

23 September 2025

CEP occasional paper
Mapping Functions for Wellbeing Measures to Generate WELLBYs for Use in Economic Evaluation

Ideally, outcome measurements for interventions that affect wellbeing would report the standard, ONS recommended, life satisfaction question. Responses to this question directly correspond to WELLBYs, which can be moneti...Read more...

Isaac Parkes

3 June 2025

CEP occasional paper
The C-WELLBY: Towards a Universal Measure of Children's Wellbeing for Policy Analysis

There is a pressing need for a universal measure of children's wellbeing, parallel to the WELLBY, for use in cost-benefit analysis. Currently, there is no consensus on how to value the wellbeing of children, raising conc...Read more...

Isaac Parkes

15 April 2025

CentrePiece article
Spending public money to create happier lives

Choosing policies that most improve wellbeing would radically change government priorities. David Frayman, Christian Krekel, Richard Layard, Sara MacLennan and Isaac Parkes explain the science behind the new approach....Read more...

David Frayman, Christian Krekel, Richard Layard, Sara MacLennan and Isaac Parkes

18 October 2024

CEP occasional paper
Mental health and employment

In this report we evaluate the benefits and costs of providing NICE recommended treatment for addiction or severe mental health problems over a two-year time horizon for one individual. We separately investigate addictio...Read more...

Isaac Parkes

4 September 2024

CEP report
Value for money: How to improve wellbeing and reduce misery

The government spends billions on our behalf. How do we want this money to be spent? This report reviews a range of policies and asks the fundamental question which should be asked of every policy: Does it deliver value ...Read more...

David Frayman, Christian Krekel, Richard Layard, Sara MacLennan and Isaac Parkes

3 September 2024