[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/p/eti/rpdpjp/24001.html
   My bibliography  Save this paper

Utilization of Well-being Indices in Policy Making: Usefulness and concerns (Japanese)

Author

Listed:
  • KUMAGAI Junya
  • MANAGI Shunsuke
Abstract
This paper critically assesses recent research on the policy application of well-being indicators and presents an overview of both their advantages and potential issues. Initially, we explore diverse methods for measuring well-being, including the Subjective Well-being (SWB) indicator, the OECD Better Life Index (BLI), the Inclusive Wealth Index (IWI) designed to sustain the well-being of future generations, and an approach that estimates the significance of each dimension through the stated preference method. We delineate the distinctive characteristics and merits of each indicator. Subsequently, drawing on recent studies suggesting a divergence between utility and SWB, we highlight methodological and normative concerns associated with utilizing SWB as an indicator of social well-being. We introduce strategies to mitigate these concerns. Additionally, through empirical analysis, we investigate the specific domains in which satisfaction measures derived from self-reported subjective responses exhibit a robust correlation with objective levels. Synthesizing insights from these reviews and data analysis, we pinpoint concerns that are inherent in well-being indicators and propose pragmatic solutions, offering actionable guidance for policymakers in the realm of well-being assessment.

Suggested Citation

  • KUMAGAI Junya & MANAGI Shunsuke, 2024. "Utilization of Well-being Indices in Policy Making: Usefulness and concerns (Japanese)," Policy Discussion Papers (Japanese) 24001, Research Institute of Economy, Trade and Industry (RIETI).
    • Handle: RePEc:eti:rpdpjp:24001
    as

    Download full text from publisher

    File URL: https://www.rieti.go.jp/jp/publications/pdp/24p001.pdf
    Download Restriction: no
    ---><---

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eti:rpdpjp:24001. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: TANIMOTO, Toko (email available below). General contact details of provider: https://edirc.repec.org/data/rietijp.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.