Abstract
GDP is a measure of production, and yet it is widely used as a proxy for well-being. It is particularly ill-suited for assessing the contributions of digital goods which are free to consumers and thus excluded from GDP measures. This underscores the need to develop new measures of well-being which can assess not only the contributions of digital goods but also welfare more generally. In Brynjolfsson, Eggers, and Gannamaneni (2017), we propose a new way of measuring consumer welfare using massive online choice experiments. This brief paper motivates the need for such an approach and introduces the method.
Original language | English |
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Journal | AEA Papers and Proceedings |
Volume | 108 |
Pages (from-to) | 473-476 |
Number of pages | 4 |
ISSN | 2574-0768 |
DOIs | |
Publication status | Published - May 2018 |
Externally published | Yes |