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<p>The discussion over the use of subjective and objective information in measuring well-being has been extensively studied, leading to agreement that both are complementary and essential. However, relatively little research has explored the significance of this balance in constructing Well-Being Indices (WBIs) and their empirical implications. Examining 26 WBIs, we find that although about half of the indicators combine subjective and objective data, subjective measures account for only 12% of the total weight. This imbalance has interconnected consequences. First, WBIs are largely based on material conditions. Second, they fail to reflect what people consider most important for their well-being. Third, the consumption paradox further distances index scores from subjective perceptions. Consequently, WBIs tend to underrate Latin American countries and overrate those in the Mediterranean, Eastern Europe, and Asia. Additionally, their heavy reliance on objective variables limits their ability to go beyond macroeconomic performance, as most WBIs correlate more strongly with GDP per capita than with life satisfaction. Increasing the role of subjective measures would enhance WBIs' capacity to provide a complete picture of human well-being and serve as meaningful complements or alternatives to GDP.</p>

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When Subjective Data is Missing: How the Absence of Individual Perceptions Affects Well-being Indices

  • 期刊论文

  • 发表日期：

    2026年3月27日

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  • Eric Barberà-Mas,
  • Ferran Mañé

摘要

The discussion over the use of subjective and objective information in measuring well-being has been extensively studied, leading to agreement that both are complementary and essential. However, relatively little research has explored the significance of this balance in constructing Well-Being Indices (WBIs) and their empirical implications. Examining 26 WBIs, we find that although about half of the indicators combine subjective and objective data, subjective measures account for only 12% of the total weight. This imbalance has interconnected consequences. First, WBIs are largely based on material conditions. Second, they fail to reflect what people consider most important for their well-being. Third, the consumption paradox further distances index scores from subjective perceptions. Consequently, WBIs tend to underrate Latin American countries and overrate those in the Mediterranean, Eastern Europe, and Asia. Additionally, their heavy reliance on objective variables limits their ability to go beyond macroeconomic performance, as most WBIs correlate more strongly with GDP per capita than with life satisfaction. Increasing the role of subjective measures would enhance WBIs' capacity to provide a complete picture of human well-being and serve as meaningful complements or alternatives to GDP.