Big Data and Wellbeing: An Economic Perspective

Abstract

This article provides a general review and discussion of the debate surrounding Big Data and wellbeing. We ask four main questions: Is Big Data very new or very old? How well can we now predict individual and aggregate wellbeing with Big Data, and to what extent do novel measurement tools complement survey-based measures? Is Big Data responsible for the rising interest in wellbeing or a threat to it? What are the economic and societal consequences of Big Data, and is there a point to government regulation of ownership, access, and consent?