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• W2924156503 abstract "Significance Gross domestic product (GDP) measures production and is not meant to measure well-being. While many people nonetheless use GDP as a proxy for well-being, consumer surplus is a better measure of consumer well-being. This is increasingly true in the digital economy where many digital goods have zero price and as a result the welfare gains from these goods are not reflected in GDP or productivity statistics. We propose a way of directly measuring consumer well-being using massive online choice experiments. We find that digital goods generate a large amount of consumer welfare that is currently not captured in GDP. For example, the median Facebook user needed a compensation of around $48 to give it up for a month." @default.
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• W2924156503 date "2019-03-26" @default.
• W2924156503 modified "2023-10-12" @default.
• W2924156503 title "Using massive online choice experiments to measure changes in well-being" @default.
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• W2924156503 doi "https://doi.org/10.1073/pnas.1815663116" @default.
• W2924156503 hasPubMedCentralId "https://www.ncbi.nlm.nih.gov/pmc/articles/6462102" @default.
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