Measuring What Matters: Well-Being, Health, and Healthcare Outcomes

This workshop introduces the economics of mental health and well-being, tracing its historical roots from Bentham’s utilitarian calculus to modern behavioural economics. We begin by examining why measuring subjective well-being matters for research and policy, and how cognitive, affective, and eudaimonic dimensions of well-being can be defined and measured using large-scale surveys and real-time experience sampling. Participants will be introduced to the validity of well-being data, including evidence from psychology, neuroscience, and health outcomes. The workshop explores empirical links between income, health, and well-being, and shows how subjective well-being measures can inform healthcare evaluation and policy decisions. Finally, we discuss evidence on hedonic adaptation and psychological resilience, and introduce the concept of WELLBY as a tool for policymakers.