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NBER Working Papers and Publications
|January 2017||Challenges in Constructing a Survey-Based Well-Being Index|
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Many in both government and academia are showing renewed interest in developing new measures of national well-being. A new measure that goes “beyond GDP” to comprehensively capture non-market goods could be a useful supplement to traditional economic indicators for guiding policy and more accurately tracking welfare. But how should national well-being be conceptualized in theory? How could it be measured in practice? How could it be constructed in a systematic and politically neutral way? These questions should be approached by economists with the same level of care that has been taken in the theoretical and practical development of GDP.
In this short paper, we focus on one conceptual framework (Benjamin, Heffetz, Kimball, and Szembrot, 2014), which uses self-reported responses to subjec...
Published: Daniel J. Benjamin & Kristen B. Cooper & Ori Heffetz & Miles Kimball, 2017. "Challenges in Constructing a Survey-Based Well-Being Index," American Economic Review, American Economic Association, vol. 107(5), pages 81-85, May. citation courtesy of