Subjective Indicators of Well-Being: Approaches, Measurements and Data

Abstract

There is a growing effort to find alternative measures of the overall performance of economy and social development. More complex indicators are constructed, multi-dimensional approaches are searched and concepts of subjective well-being are increasingly applied. While academic research is booming and politicians are interested about innovative approach in the West, not much attention is given to the topic in the Czech Republic. The article drafts some of many problems appearing on the interface of the objective and subjective indicators. In the first section, some multi-dimensional approaches are tackled and in the second, concepts of happiness and satisfaction are overviewed. The relationship between economic growth and human happiness is described next. In the fourth section, survey data on reported happiness in the Czech Republic, ready for analysis and comparison, are described. In the conclusion, perspectives of research in the area are outlined, together with a possible use of subjective indictors in policies.