Well-being Indicators: a Review and Comparison in the Context of Italy

Abstract

Interest in the well-being measurement is constantly increasing worldwide, especially due to the Stiglitz Commission suggestions, which opened several questions about its assessment and theoretical framework. This paper focuses on the Italian scenario due to the central role given to this topic by the Italian Parliament, which introduces equitable and sustainable well-being among the objectives of the government’s economic and social policy. Significant differences exist among the proposed Italian well-being indices in terms of theoretical approach, statistical rigour and aims. We propose a detailed outline of these indices useful for policy-makers, practitioners, economists and statistics scholars, with the awareness that for a good analysis, a complete and conscious description of the data is the starting point to further improve their usefulness, to maximise their advantages and to cut down their limitations.