Measuring Welfare with Massive Online Choice Experiments: A Brief Introduction

AEA Papers and Proceedings, Vol.108: 473-76, 2018.

6 Pages Posted: 1 May 2018 Last revised: 22 Mar 2019

See all articles by Erik Brynjolfsson

Erik Brynjolfsson

Massachusetts Institute of Technology (MIT) - Sloan School of Management; National Bureau of Economic Research (NBER)

Felix Eggers

University of Groningen

Avinash Collis

University of Texas at Austin - McCombs School of Business

Date Written: May 1, 2018

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.

Suggested Citation

Brynjolfsson, Erik and Eggers, Felix and Collis, Avinash, Measuring Welfare with Massive Online Choice Experiments: A Brief Introduction (May 1, 2018). AEA Papers and Proceedings, Vol.108: 473-76, 2018.. Available at SSRN: https://ssrn.com/abstract=3169662

Erik Brynjolfsson

Massachusetts Institute of Technology (MIT) - Sloan School of Management ( email )

E53-313
Cambridge, MA 02142
United States
617-253-4319 (Phone)

HOME PAGE: http://digital.mit.edu/erik

National Bureau of Economic Research (NBER) ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Felix Eggers

University of Groningen

Avinash Collis (Contact Author)

University of Texas at Austin - McCombs School of Business ( email )

Austin, TX
United States

HOME PAGE: http://www.avinash.info

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