Standard Gamble

A utility valuation model which involves presenting people with a choice between two alternatives.

Stakeholders

People or organisations that experience change or affect by the activity, whether positive or negative, as a result of the activity being analysed. (see also Externalities)

Social Return on Investment (SROI)

A model to evaluate policies by governments or other policy makers. It uses elements from Cost Benefit Analysis (CBA) and modern accounting principles. The role of stakeholders is emphasized and the valuation of outcomes in monetary terms is integral to the approach.

Social Investment

Investment that is used to advance the present and future skills and capacities of people and that can be both supportive and preventative. Investment that is aimed to enhance Social Investment is often considered as a function of a modern welfare systems and depends on design features, context and circumstances in time.

Social Innovation

The development and testing of new models of delivering product and services.

Social Impact Measurement

A formal evaluation method/explanation of the social impact that results from an investment. It is used by some organisations measure their social impact/social return or social value.

Social Impact Investing

An investment that creates both financial return and a positive social or environmental impact that is actively measured. (see also Social Impact Measurement)

Social Impact Bonds

Bonds given as an incentive to private investors in order to finance social programmes. They offer returns (reimbursement of the initial investment at some rate) from the public sector only if the programmes achieve specific social outcomes.

Social Discount Rate

A discount rate in assessing the welfare value of funds in a social investment. (see also Ramsey Equation)

Social Care Related Quality of Life (SCRQoL)

An indicator used to assess service benefits. It refers to the QoL of the individual receiving care services but not to the QoL of family members, or of others, who might be providing informal care; and provides no algorithm that seeks to translate satisfaction scores into monetary values.