What matters most to people around the world? Retrieving Better Life Index priorities on Twitter
Giuliano Resce and
Technological Forecasting and Social Change, 2018, vol. 137, issue C, 61-75
Better Life Index (BLI), the measure of well-being proposed by the OECD, contains many metrics, which enable it to include a detailed overview of the social, economic, and environmental performances of different countries. However, this also increases the difficulty in evaluating the big picture. In order to overcome this, many composite BLI procedures have been proposed, but none of them takes into account societal priorities in the aggregation. One of the reasons for this is that at the moment there is no representative survey about the relative priorities of the BLI topics for each country. Using these priorities could help to design Composite Indices that better reflect the needs of the people. The largest collection of information about society is found in social media such as Twitter. This paper proposes a composite BLI based on the weighted average of the national performances in each dimension of the BLI, using the relative importance that the topics have on Twitter as weights. The idea is that the aggregate of millions of tweets may provide a representation of the priorities (the relative appreciations) among the eleven topics of the BLI, both at a general level and at a country-specific level. By combining topic performances and related Twitter trends, we produce new evidences about the relations between people's priorities and policy makers' activity in the BLI framework.
Keywords: Big Data; Better Life Index; Composite indicators; Twitter (search for similar items in EconPapers)
JEL-codes: A13 C43 I31 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:tefoso:v:137:y:2018:i:c:p:61-75
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