Developments in the Measurement of Subjective Well-Being
Abstract
Direct reports of subjective well-being may have a useful role in the measurement of consumer preferences and social welfare, if they can be done in a credible way. Can well-being be measured by a subjective survey, even approximately? In this paper, we discuss research on how individuals' responses to subjective well-being questions vary with their circumstances and other factors. We will argue that it is fruitful to distinguish among different conceptions of utility rather than presume to measure a single, unifying concept that motivates all human choices and registers all relevant feelings and experiences. While various measures of well-being are useful for some purposes, it is important to recognize that subjective well-being measures features of individuals' perceptions of their experiences, not their utility as economists typically conceive of it. Those perceptions are a more accurate gauge of actual feelings if they are reported closer to the time of, and in direct reference to, the actual experience. We conclude by proposing the U-index, a misery index of sorts, which measures the proportion of time that people spend in an unpleasant state, and has the virtue of not requiring a cardinal conception of individuals' feelings.
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The results from the DRM provide a good approximation for those from EMA.
“Kahneman and Krueger (2006) provide evidence that the results from the DRM provide a good approximation for those from EMA.”
From Measuring Subjective Wellbeing: Recommendations on Measures for use by National Governments (2012) · cites this paper as Kahneman and Krueger, 2006
The spike in the number of well-being instruments developed in the past 20 years may have been influenced by growing academic recognition that self-reported well-being data have demonstrable empirical and economic value.
“The spike in the number of instruments developed in the past 20 years in particular may have been influenced by the growing academic recognition that self-reported data produced by measures of well-being have demonstrable empirical and economic value.134”
From Review of 99 self-report measures for assessing well-being in adults: exploring dimensions of well-being and developments over time (2016) · cites this paper as [134]
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- Authors
- Kahneman, D., & Krueger, A. B.
- Affiliations
- Princeton University (US)
- Venue
- Journal of Economic Perspectives
- Publisher
- American Economic Association
- Published
- 2006-02-01
- Volume
- 20
- Issue
- 1
- Pages
- 3-24
- ISSN
- 0895-3309 (ISSN-L)
- OpenAlex
- W2148112990
- Semantic Scholar
- 709d5dad597c6c1eb5389a766eab716bce01fde1
- Cited by
- 3,177
- References
- 76
- Citations by year
- 2026: 96 · 2025: 128 · 2024: 149 · 2023: 160 · 2022: 175 · 2021: 187 · 2020: 188 · 2019: 182 · 2018: 148 · 2017: 146 · 2016: 234 · 2015: 225 · 2014: 205 · 2013: 199 · 2012: 179
- FWCI
- 130.75
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- The Journal of Economic Perspectives (publishedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- Topics
- Social Sciences › Psychology › Social Psychology › Psychological Well-being and Life Satisfaction
- Social Sciences › Sociology and Political Science › Quality of Life Measurement
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic and Environmental Valuation
- Keywords
- subjective well-being, well-being measurement, self-reported happiness, social welfare measurement, consumer preferences, misery index
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