Going beyond GDP to nowcast Well-Being using retail market data

Riccardo Guidotti, Michele Coscia, Dino Pedreschi, Diego Pennacchioli

Résultats de recherche: Contribution dans un livre/un catalogue/un rapport/dans les actes d'une conférenceArticle dans les actes d'une conférence/un colloque

Résumé

One of the most used measures of the economic health of a nation is the Gross Domestic Product (GDP): the market value of all officially recognized final goods and services produced within a country in a given period of time. GDP, prosperity and well-being of the citizens of a country have been shown to be highly correlated. However, GDP is an imperfect measure in many respects. GDP usually takes a lot of time to be estimated and arguably the well-being of the people is not quantifiable simply by the market value of the products available to them. In this paper we use a quantification of the average sophistication of satisfied needs of a population as an alternative to GDP. We show that this quantification can be calculated more easily than GDP and it is a very promising predictor of the GDP value, anticipating its estimation by six months. The measure is arguably a more multifaceted evaluation of the well-being of the population, as it tells us more about how people are satisfying their needs. Our study is based on a large dataset of retail micro transactions happening across the Italian territory.

langue originaleAnglais
titreAdvances in Network Science - 12th International Conference and School, NetSci-X 2016, Proceedings
EditeurSpringer Verlag
Pages29-42
Nombre de pages14
Volume9564
ISBN (imprimé)9783319283609
Les DOIs
étatPublié - 2016
Evénement12th International Conference and School on Advances in Network Science, NetSci-X 2016 - Wroclaw, Pologne
Durée: 11 janv. 201613 janv. 2016

Série de publications

NomLecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
Volume9564
ISSN (imprimé)03029743
ISSN (Electronique)16113349

Une conférence

Une conférence12th International Conference and School on Advances in Network Science, NetSci-X 2016
PaysPologne
La villeWroclaw
période11/01/1613/01/16

Empreinte digitale

Gross
Health
Economics
Quantification
Market
Period of time
Large Data Sets
Imperfect
Transactions
Predictors
Alternatives
Evaluation

Citer ceci

Guidotti, R., Coscia, M., Pedreschi, D., & Pennacchioli, D. (2016). Going beyond GDP to nowcast Well-Being using retail market data. Dans Advances in Network Science - 12th International Conference and School, NetSci-X 2016, Proceedings (Vol 9564, p. 29-42). (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); Vol 9564). Springer Verlag. https://doi.org/10.1007/978-3-319-28361-6_3
Guidotti, Riccardo ; Coscia, Michele ; Pedreschi, Dino ; Pennacchioli, Diego. / Going beyond GDP to nowcast Well-Being using retail market data. Advances in Network Science - 12th International Conference and School, NetSci-X 2016, Proceedings. Vol 9564 Springer Verlag, 2016. p. 29-42 (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)).
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Guidotti, R, Coscia, M, Pedreschi, D & Pennacchioli, D 2016, Going beyond GDP to nowcast Well-Being using retail market data. Dans Advances in Network Science - 12th International Conference and School, NetSci-X 2016, Proceedings. VOL. 9564, Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics), VOL. 9564, Springer Verlag, p. 29-42, 12th International Conference and School on Advances in Network Science, NetSci-X 2016, Wroclaw, Pologne, 11/01/16. https://doi.org/10.1007/978-3-319-28361-6_3

Going beyond GDP to nowcast Well-Being using retail market data. / Guidotti, Riccardo; Coscia, Michele; Pedreschi, Dino; Pennacchioli, Diego.

Advances in Network Science - 12th International Conference and School, NetSci-X 2016, Proceedings. Vol 9564 Springer Verlag, 2016. p. 29-42 (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); Vol 9564).

Résultats de recherche: Contribution dans un livre/un catalogue/un rapport/dans les actes d'une conférenceArticle dans les actes d'une conférence/un colloque

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Guidotti R, Coscia M, Pedreschi D, Pennacchioli D. Going beyond GDP to nowcast Well-Being using retail market data. Dans Advances in Network Science - 12th International Conference and School, NetSci-X 2016, Proceedings. Vol 9564. Springer Verlag. 2016. p. 29-42. (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)). https://doi.org/10.1007/978-3-319-28361-6_3